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EBRD approves EUR 305 mln. for the railroad Macedonia-Bulgaria

November 12, 2014

The European Bank for Reconstruction and Development has approved the total of 305 million euro for Macedonia, reported BGNES.

145 million euro will be used for the construction of the second stage of the railroad between Macedonia and Bulgaria, and 160 million euro are for the National Roads program.

The funds were obtained under exceptionally favorable conditions. The period of payment was set to 15 years with a grace period of 4 years and an interest rate at 1.15% , announced the Ministry of Finance of Macedonia.