Macedonia, Russia sign agreement on clearing USD 60mn debt.

By bne IntelliNews June 20, 2010
The agreement, clearing Russias USD 60mn debt through investment to the same amount in the construction of gas supply infrastructure in the country via Russia s gas company Gazprom, was signed during the visit of president Gjorge Ivanov and finance minister Zoran Stavreski in Russia. The two countries have been trying to settle the issue since 2007, but different obstacles delayed it several times. Macedonia will participate in the gas supply network with budget financing, too. The pipeline, which is considered a top priority infrastructure project, will connect Kumanovo, Gevgelija and Strumica and with a combined length of 150-200 km. The construction works are planned to start in 2010.

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