EIB Approves €107 Million to Modernize North Macedonia’s Rail Network
The European Investment Bank (EIB) has approved €107 million to modernize and expand the rail network in the Republic of North Macedonia. This funding will support the construction of a new 31-kilometer railway section between Kumanovo and Beljakovce and cover the electrification of the main railway corridor linking North Macedonia with neighboring Serbia and Greece.
This initiative is a key part of North Macedonia’s broader strategy to develop its transportation infrastructure. An improved rail network will not only enhance regional connectivity but also support the European Union’s push for sustainable and efficient transport solutions across the continent.
By electrifying the railway corridor, North Macedonia will also significantly reduce its carbon emissions from transportation, aligning with EU environmental goals.
The push for sustainable development in the region extends beyond rail; Lightsource’s 560MWp Solar Project in Greece offers another powerful example. Part of the National Recovery and Resilience Plan “Greece 2.0,” this project is a strategic investment financed by Eurobank, showcasing the commitment of European nations to renewable energy and sustainable development.
This rail project demonstrates the EIB’s continued support for infrastructure that both enhances economic connectivity and encourages a shift toward greener energy. As North Macedonia moves forward with these developments, it solidifies its position as a crucial transit hub in the Balkans, fostering greater economic growth and regional cooperation.
