Skopje, 29 July 2022 (MIA) – The Ministry of Finance and the World Bank have signed an agreement that provides EUR 37 million within the Local Roads Connectivity Project, used for the rehabilitation and upgrading of 450km of local roads in all municipalities across the country. Finance Minister Fatmir Besimi and World Bank Country Manager Massimiliano Paolucci signed the agreement in the attendance of Minister of Transport and Communications Blagoj Bochvarski, the Ministry of Finance said in a press release. “Local self-government units are closest to the citizens, playing a significant role in the management of daily life through the public services they provide. Therefore, investments in municipal infrastructure mean investing in the improvement of peoples’ lives but also stimulating economic development through the growth of their micro-economies. In a time when all economies face a slowdown of the economic growth, it is of exceptional significance to implement the investment agenda in order to stimulate economic activity amid these complex circumstances. Investment in roads is always a quality investment,” said Minister Besimi. Minister Bochvarski said the project, worth EUR 70 million in total, is realized in line with the projected dynamics, with agreements already concluded in 45 municipalities. World Bank’s Paolucci said North Macedonia has made significant progress in the improvement of the national road infrastructure and connectivity, although there are still challenges arising from the reforms over management and upgrading of the local road network, towards developing a stable transport sector in the country. The World Bank is currently supporting the realization of projects in North Macedonia worth over EUR 500 million in the fields of infrastructure, education and agriculture.