Funds have been provided for the realization of the project for construction of an interconnection gas pipeline between the Republic of Northern Macedonia and Greece, informs Minister of Finance Fatmir Besimi after signing the Guarantee Agreement with Vice President of the European Investment Bank, Liljana Pavlova. The financial agreement between the National Energy Resources (NER) and the EIB was also signed. The total investment value of the project is 57,8 million euros, with the signing of the specific loan agreement providing 28,9 million euros.
As Besimi pointed out, the VBIF instrument provides an additional 12,4 million euros as an investment grant, which will be managed by the European Investment Bank, for which an agreement was also signed between NER and the EIB. The remaining 16,5 million euros will be provided by the EBRD, for which the Government will submit a separate Draft Law on Guarantee in the coming period.
– The project for construction of the gas pipeline is one of the most priority projects for both countries, for the region, as well as for the Energy Community and is supported by all relevant European institutions. The realization of this project will provide stability in energy supply, primarily in industry, which will lead to economic development of all regions in the Republic of Northern Macedonia, said Minister Besimi at the signing of the Agreement.
The project “Interconnector for natural gas transmission Greece – Northern Macedonia, part of Northern Macedonia”, as Minister Besimi says, is of strategic importance for our country. Its implementation will contribute to ensuring accelerated and sustainable economic growth, higher living standards and better quality of life of citizens.
In addition, Minister Besimi thanked for the continuous support that the EIB gives to our country.
The Vice President of the European Investment Bank Pavlova said that as an EU Bank and part of Team Europe, the EIB is pleased to support this EU priority project, part of the Economic and Investment Plan, which is a pillar of the National Energy Strategy of the Republic of Northern Macedonia.
– The project is also related to the previous commitment of the Bank to strengthen energy security in the Western Balkans by reducing dependence on only one source of gas supply. It will provide access to various sources, provide supply in case of shortage and increase market competition by connecting to the increasingly diversified natural gas market in Greece. As a priority project for the European Union and the Central and South East Europe Gas Connection Initiative (CESEC), it will help the region gradually eliminate coal, while increasing connectivity and creating the conditions for a common regional market, as well as for attracting new investments, Pavlova said.
The project will be implemented by the Joint Stock Company for performing energy activities “National Energy Resources” – Skopje, in state ownership. Its realization is envisaged in the Budget for 2022 in which capital investments are at a historically high level.
Source: MIA
