EIB aims to strengthen cooperation with Macedonia.

By bne IntelliNews October 14, 2010
European Investment Bank Vice-President Dario Scannapieco said that EIB would like to strengthen its cooperation with Macedonia, including financial support, a release on the website of the Macedonian ministry of finance informs. He reportedly added that the EIB has no upper limit on the amount of funds it could approve, but if projects are good, it will finance them. Scannapieco made those statements after meeting Macedonian deputy PM and finance minister Zoran Stavreski in Skopje. EIB is expected to finance part of the countrys gas supply project, road section Demir Kapija-Smokvica, railroad towards Bulgaria, the second and third stages of hydro-system Zletovica and renewable energy sources. EIB also will supplement the EUR 100mn credit line for SMEs approved last year in order to boost the solvency of companies during the global economic crisis. Stavrevski expects the funding for the road section Demir Kapija-Smokvica to be approved by the end of March 2011. Feasibility studies will be developed for the railroad towards Bulgaria. As regards the countrys gas supply project, the finance minister said that a feasibility study has been submitted to EIB. The documentation for the second and third stages of hydro-system Zletovica has also been delivered to the EIB and is in the final stage of examination. Since 1998, the EIB has invested EUR 330mn in various projects in the country.

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