GrCF2: Skopje Bus Rapid Transit Project

disbursing

Provision of a sovereign loan of up to EUR 70 million ("the loan") to the Republic of North Macedonia for on-granting to the city of Skopje. The loan will finance the construction of a Bus Rapid Transit ("BRT") corridor on two dedicated lanes, the acquisition of a new tram-bus fleet and the construction of a new depot (the "project") in Skopje. The project will be implemented in two phases and comprises of two tranches: Tranche 1 of up to EUR 40 million to finance BRT Line 1 (east-west) to be committed at signing, and Tranche 2 of up to EUR 30 million to finance BRT Line 2 (north-south) to be committed upon completion of separate due diligence. The loan will be extended to the Republic of North Macedonia and on-granted to the city of Skopje, which will be the implementing agency. The project is envisaged as part of the EBRD Green Cities Framework 2 ("GrCF2"). The facility is designed to serve as a sector-wide catalyst for addressing environmental challenges at municipal level.