World Bank lends 83-M euros to Macedonia for expressway construction

October 7, 2015 10:19 am 

SKOPJE, Oct. 7 — The World Bank and the Macedonian Ministry of Finance on Tuesday in Skopje signed a 83-million-euro (about USD94 million) loan contract for construction of Rankovce-­Kriva Palanka expressway.

"The signing of this agreement turns the highway connecting Rankovce and Kriva Palanka into reality. The road is significant for the inhabitants of north-­eastern Macedonia and for those traveling to Bulgaria," said Macedonian Deputy Prime Minister and Finance Minister Zoran Stavreski.

According to Stravreski, the World Bank provides the loan with "extremely" favorable conditions, including a final maturity of 28 years and an eight-year grace period.

Construction works for the 26­-kilometer expressway are set to start in the spring of 2016 and are expected to be completed in late 2019. (PNA/Xinhua)



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