The EBRD is providing a €11.15 million loan to the Macedonian Air Navigation Service Provider (M-NAV) for the modernisation and upgrade of the company’s air navigation equipment. The loan is the Bank’s first non-sovereign loan in the Macedonian transport sector and part of a €16.75 million investment programme by the company with the goal to harmonise air navigation with the European Common Aviation Area.
The Governments of Austria and France are providing €300,000 each in technical assistance to facilitate the implementation of the project and for institutional strengthening of M-NAV and the sector regulator.
M-NAV is the state-owned Macedonian air navigation service provider. Created in 2009 under a previous EBRD project, the company is responsible for air navigation, air traffic control and alerting services, aeronautical information, airspace and flight procedures as well as meteorological and other services. It is also responsible for providing air navigation services for flights through Macedonian airspace as well as terminal services at the two airports in Skopje and Ohrid.
Sue Barrett, EBRD Director for Transport, said: “We welcome this important project as it will improve the safety and efficiency of air navigation services in the country. In addition to an equipment upgrade it will also support the institutional strengthening of air navigation services through the harmonisation with European standards. This is our fourth project in the Macedonian aviation sector which is testimony to the close relationship we have built over the years.”
Nikolet Tagarinski, Executive Director of M-NAV, said: “We are dedicated to the objectives of the Single European Sky agreement. With the support of the EBRD we will implement further steps to ensure the high quality of air navigation services in our country and be able to cope safely and efficiently with the increased traffic expected in the future. The first and overriding priority in all projects is safety which will benefit from the acquisition of state-of-the-art equipment.”
The EBRD started investing in the Macedonian economy in 1993 and to date has signed over 80 projects with a net cumulative business volume of more than €1.1 billion. Nearly 36 per cent of cumulative commitments are in the infrastructure sector, 28 per cent in the financial sector, 20 per cent in the energy sector and 16 per cent in industry, commerce and agribusiness.
