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

  • Chinese funding for important Ghanaian road links
    December 10, 2012
    A loan worth nearly US$113 million from the China Development Bank will be used to improve key road connections in Ghana. The four sections of road are in the south west of the country and are important links to the country’s oil and gas producing areas. In all, the China Development Bank is providing a lending facility worth a total of $500 million to Ghana’s Ministry for Roads and Highways. Other projects planned from this lending facility include $180 million for paving an existing gravel road that is 40
    Read More
  • Turkmenistan highway project – funding secured
    March 26, 2018
    A finance package has been secured to help pay for the building of Turkmenistan’s Ashgabat-Turkmenabat highway project. Worth US$2.4 billion, the financing comes in the shape of a loan and is being provided by the Central Bank of Turkmenistan. The finance package is being provided to the Union of Industrialists and Entrepreneurs of Turkmenistan under a 20-year loan deal that includes a grace period of five years. The new Ashgabat-Turkmenabat highway project will help to improve transport efficiency in
    Read More
  • Ring road upgrade for Bucharest
    May 4, 2012
    Plans are in hand in Romania for the upgrades to the Bucharest ring road. This work is due to be completed by 2014, according to the country’s Transport Ministry. Reconstruction and modernisation of the Chitila-Voluntari segment of the ring road was completed in 2010 and the modernisation of another two segments were completed in 2011. Also, the upgrading of two further segments will be finished by mid 2013. The investment in the five segments of the ring road is expected to reach €100.17 mill
    Read More
  • Funding for Belarus road project
    May 18, 2016
    Funding for a key project in Belarus could be supplied by the European Bank of Reconstruction and Development (EBRD). Financing is required for the reconstruction of the M10 highway in Belarus, which runs from Kobrin through Gomel to the Russian border. The EBRD will consider options once the results of the tender have been revealed. The private sector looks likely to take part in the project, which is conceived as a PPP scheme, the first for Belarus. The project will be handled under the concession mode
    Read More

Highlighted Content