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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.

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