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

  • Argentina road projects financing established
    December 7, 2016
    Argentina is receiving a loans from the Inter-American Development Bank (IADB) worth US$300 million for road improvements. The loan will be used to widen and improve roads across the country and is for 25 years with a grace period of 4.5 years. The Argentina Government will provide a further $200 million for road development projects. Planned projects include a new 120km dual carriageway as well as work to a 35.4km section of National Route 19 in Cordoba Province. Meanwhile around half of Salta Province
    Read More
  • North Macedonia road deal
    March 24, 2023
    North Macedonia road deal for Bechtel Enka
    Read More
  • Bosnia road corridor contract
    March 21, 2019
    The contract for the first stage of the Corridor 5C project for Bosnia has been signed. This 48km section of Corridor 5 will itself be constructed in four sections and is expected to cost more than €500 million. Funding for these four stages of the Corridor 5 project is being provided by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), each of which will fund two stages.
    Read More
  • Papua New Guinea is set for extensive road bridge work upgrades
    January 21, 2015
    Papua New Guinea is set to start road and bridge upgrades that could cost upwards of US$576 million. Work on bridges will be paid partly through agreements with the Australian Department of Foreign Affairs, amounting to around US$53 million, and the Asian Development Bank which is putting in nearly $32 million. The Australian Department of Foreign Affairs has also earmarked $101 million to upgrade of arterial roads to standard concrete in the port city of Lae, the capital of Morobe Province. Lae, the
    Read More

Highlighted Content