EIB Approves €107 Million to Modernize North Macedonia’s Rail Network
The European Investment Bank (EIB) has approved a €107 million financing package to modernize and expand the rail network in the Republic of North Macedonia. The funding will support the construction of a new 31-kilometer railway section between Kumanovo and Beljakovce and the electrification of the main corridor connecting the country with its neighbors, Serbia and Greece.
A key component of North Macedonia’s broader transportation strategy, this initiative will enhance regional connectivity while contributing to the European Union’s push for more sustainable and efficient transport. Electrifying the railway corridor will also allow North Macedonia to significantly reduce its transportation-related carbon emissions, aligning the country with EU environmental standards and goals.
This focus on sustainability echoes other major investments in the region, such as Lightsource’s 560MWp Solar Project in Greece. Part of the National Recovery and Resilience Plan “Greece 2.0,” this strategic project is financed by Eurobank, highlighting a wider commitment among European nations to renewable energy and sustainable development.
This rail project underscores the EIB’s continued support for infrastructure that enhances economic connectivity while bolstering the shift toward greener energy sources. As North Macedonia moves forward with these developments, it strengthens its position as a crucial transit hub in the Balkans, fostering economic growth and regional cooperation.
