The European Bank for Reconstruction and Development (EBRD) has granted a sovereign loan of up to EUR 20.9 million to strengthen North Macedonia’s rail transport sector.
The financing, which will benefit Macedonian Railways Transport – Joint Stock Company Skopje (MRT), will enable the purchase of up to five new electric locomotives and the implementation of a modern enterprise resource planning (ERP) system, representing an important step towards modernizing rail freight operations.
The project, implemented by the Ministry of Transport and supported by the Ministry of Finance, will enable MRT to modernize its rolling stock, improve its operational efficiency and service quality, and enhance the safety of freight transport operations.
The project aims to improve MRT’s performance by developing a corporate development plan that will enhance the company’s efficiency and financial sustainability. The plan will include the development of an efficiency action plan with specific measures to improve the company’s tariff methodology, as well as updating and harmonizing the methodology for public service obligations in line with EU requirements.
“The agreement is the result of intensive and constructive negotiations and confirms the confidence that international financial institutions have in our policies and the direction the country is taking. The conditions under which the funds are granted—a long repayment period, a favorable grace period, and a competitive interest rate—are fully aligned with our strategy of responsible public debt management and ensuring the sustainability of public finances,” said Gordana Dimitrieska Kočoska, Minister of Finance of North Macedonia.
The financing is an “opportunity to complete an extremely important process, which will involve the purchase of at least five new electric locomotives, together with the related spare parts. With the five new locomotives and the four newer existing ones, we will have nine modern locomotives capable of covering all freight transport, and some of them will also be used for passenger transport,” said Aleksandar Nikoloski, Minister of Transport.
The investment is expected to generate significant economic and environmental benefits. By increasing the competitiveness and sustainability of North Macedonia’s rail transport, the funds will support the country’s transition to a greener and more competitive transport system. At the same time, a modern ERP system will streamline MRT’s core processes, leading to improvements in operational efficiency.
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