Chinese funding will help pay for Macedonia road project

In Macedonia a new 50km section of highway will be constructed, with €574 million of financing coming from China's Export-Import Bank. The Exim Bank credit line to Macedonia will be used to build a the highway connecting Skopje and Stip. The new route will also link Stip with pan-European transport corridor 10. The loan will carry an interest rate of 2% and will have a 20 year term with a five year grace period. Macedonia is close to completing work on the corridor 10 road project, which is worth €300 milli
October 4, 2013 Read time: 1 min
In Macedonia a new 50km section of highway will be constructed, with €574 million of financing coming from China's 1290 Export-Import Bank. The Exim Bank credit line to Macedonia will be used to build a the highway connecting Skopje and Stip. The new route will also link Stip with pan-European transport corridor 10. The loan will carry an interest rate of 2% and will have a 20 year term with a five year grace period. Macedonia is close to completing work on the corridor 10 road project, which is worth €300 million and has had its funding provided jointly by the 1054 European Investment Bank and the 1166 European Bank for Reconstruction and Development.
Road Structures

Related Content

  • Key road projects underway in East Africa
    December 6, 2013
    A series of road improvements and investments will improve connections in Uganda, Tanzania and Ethiopia. The World Bank is offered the Ugandan Government a loan of US$400 million to rebuild roads in Kamdini and Tororo-Soroti-Lira. This funding will allow contractors to carry out road maintenance on the roads for 7-10 years, with work scheduled to start in 18 months. Meanwhile a deal worth $335.76 million has signed by the Tanzanian Government for the second phase of the Road Sector Support Project (RSSP-II
    Read More
  • Support for Poland’s A1
    July 6, 2012
    The European Investment Bank (EIB) has in total granted a long-term facility of €1.070 billion for the construction of the second phase of the A1 motorway forming part of the priority trans-European transport network connecting the north of Poland (Gdansk) with the Austrian capital Vienna, via the Czech and Slovak Republics. The loan will finance the construction of a 62km section of the A1 motorway between Nowe Marzy and Torun on the basis of a design, build, finance and operate (DBFO) concession. This con
    Read More
  • Bosnia strategy
    March 1, 2012
    Bosnia & Herzegovina plans to invest some €2.9 billion in constructing highways by 2017.
    Read More
  • Road transport key to Africa's trade links
    February 17, 2012
    Road transport is the key to improving Africa's links within its own territory, and further afield as Patrick Smith reports. Development of road transportation is the key to the future of the African economy, and countries on the continent are making great strides. According to a report by a transport infrastructure expert at the New Partnership for Africa's Development (NEPAD), within the next 15 years the value of trade in Africa could reach US$250 billion if a $32 billion investment is made to integrate
    Read More

Highlighted Content