Skopje, 30 December 2025 (MIA) – Macedonian Railways Transport company and the European Bank for Reconstruction and Development (EBRD) signed Tuesday an agreement for a €20.9 million loan for procurement of electric locomotives with reserve parts so as to increase the transport of goods and the company to generate revenues.

The project is a key step in modernizing Macedonian Railways Transport and improving the safety and efficiency of freight rail transportation, it was noted at the signing.

The conditions under which the funds are provided, including long-term repayment period, favorable grace period and competitive interest rate, are in full accordance with the strategy for responsible public debt management and for ensuring sustainable public finances.

“Today we are talking about something that has been neglected for years despite being of crucial importance for the economy, for exports and the European future of Macedonia – the railways. The state we inherited was devastating. Until recently, Macedonian Railways Transport had not a single fully functional locomotive,” Prime Minister Hristijan Mickoski said noting: “This is a systemic renewal of the railway sector.”

The loan agreement was preceded by an analysis on the needs, functionality and operability of the company Macedonian Railways Transport, according to him.

According to Deputy Prime Minister and Transport Minister Aleksandar Nikoloski and Finance Minister Gordana Dimitrieska-Kochoska, the signing of the agreement is a key step aimed at full transformation of Macedonian Railways Transport into a modern enterprise able to respond to the needs of the clients.

“The new locomotives will completely change the image and with the existing ones, transport will be fully serviced,” said Nikoloski.

The loan agreement, said Dimitrieska-Kochoska, comes as a result of intensive and constructive negotiations all the while affirming the trust international financial institutions have in our policies and the direction the country is moving in.

“With today’s signing of the loan agreement to finance the project on renewing the freight rail fleet, we’re investing directly in increasing the capacities and efficiency of Macedonian Railways Transport by procuring new locomotives that will bolster the freight rail transport. 

It means better connectivity, better competitiveness of the domestic economy and fresh ways to generate revenues. It’s also important because the project involves the introduction of a modern ERP system, laying the foundation for better resource management, increased operational efficiency and higher level of corporate management of the railways sector,” said the minister. 

In addition to EBRD officials, the event was also attended by representatives of the Transport Ministry and Macedonian Railways Transport. 

Photo: MIA