Finance Ministry, World Bank sign EUR 70 million infrastructure agreement

Jerusalem, 29 December, 2019 (TPS) -- By: MIA

Finance Minister Nina Angelovska and World Bank Country Manager Marco Mantovanelli have signed an EUR 70 million agreement for reconstruction of 450 km of local roads in 80 municipalities throughout North Macedonia, the Finance Ministry said in a press release.

“Every penny invested in infrastructure has a positive effect on transport, trade, tourism and living conditions. This project, which is part of a four-year cooperation framework with the World Bank worth EUR 420 million, that covers investments in infrastructure, human capital, fiscal and environmental sustainability, will help improve local infrastructure throughout the country,” Angelovska said.

Loan terms, the ministry underlined, are extremely favorable.

The Ministry of Transport and Communications has already established a team to implement the project and handle municipality proposals.