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EBRD May Lend 50 Million Euros to FYR Macedonia Rail Line

The European Bank for Reconstruction and Development plans to lend 50 million euros ($63 million) to the state-run rail transport company in the Former Yugoslav Republic of Macedonia, pending board approval Sept. 4.

The sovereign-guaranteed loan to Makedonski Zeleznici Transport AD would support the renewal of rolling stock with an average age of 30 to 45 years, the London-based lender said on its website.

The funds will finance the purchase of passenger and freight cars, the overhaul of locomotives, and consulting services, the EBRD said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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