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World Bank provides Macedonia 83 mln euros loan for expressway construction

Xinhua, October 7, 2015 Adjust font size:

The World Bank and the Macedonian Ministry of Finance on Tuesday in Skopje signed a 83-million-euro (about 94 million U.S. dollars) 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 Minister of Finance Zoran Stavreski.

According to Stravreski, the World Bank provides the loan with "extremely" favorable conditions, including a final maturity of 28 years and an 8­-year grace period.

Construction works for the 26­ km expressway are set to start in the spring of 2016 and are expected to be completed in late 2019. Endit