North Macedonia’s Ministry of Finance has submitted financing requests totalling €1.9bn to 22 major international banks and financial institutions to fund the construction of a high-speed railway along Corridor X.

Corridor X is a major trans-European transport route that connects Central Europe with the southeastern Balkans. It runs from Salzburg in Austria, through countries including Slovenia, Croatia, Serbia, North Macedonia and Greece, ending at the port of Thessaloniki in Greece.

The government describes the railway as a transformative infrastructure project, aimed at modernising the country’s transport system and strengthening regional connectivity. Funding requests were sent to institutions across Europe, the US, Japan, and the UK — including the World Bank, European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), OPEC Fund, French Development Agency (AFD), German state-owned investment and development bank KfW, Japan International Cooperation Agency (JICA), Morgan Stanley, JP Morgan, Goldman Sachs, and others, 24.mk reported.

The planned railway will stretch approximately 200 kilometres, with a double-track design. Estimated construction costs are €8.8mn per kilometre, and the total investment also includes expenses for documentation, expropriation and supervision. The state budget is expected to contribute around €100mn.

The UK, which recently signed a €6mn partnership agreement with North Macedonia, is expected to guarantee the loan repayment — a measure the government says will enable access to favourable interest rates without increasing public debt.

Authorities expect responses from lenders by the end of June, with flexibility for deadline extensions if needed.