The EBRD is considering providing a loan of up to €11.15 million to M-NAV, the Macedonian air navigation services provider, to finance the technological upgrade of its equipment and operations. The project will enable the company to comply with the standards of service, as required by EU industry regulations.
The transition impact of this transaction is derived from its in-built support for adoption of European industry norms in terms of regulation, operational practice and service provision within the air navigation sector in FYR Macedonia, allowing M-NAV to operate on a transparent and commercially viable basis. The challenges facing both the Company and the Regulator in this process require on-going effort in terms of national regulation and policy review to achieve harmonisation with European industry practices.
“M-NAV” - Macedonian Air Navigation Service Provider, PCL.
A non-sovereign loan to M-NAV of up to €11.15 million.
Up to €16.75 million.
Categorised B. The potential E&S impacts of the project are expected to be limited and can be readily identified and addressed through mitigation measures.
The project will improve air navigation safety and help FYR Macedonia comply with international aviation safety (ICAO) requirements. Adverse E&S impacts are expected to be limited and readily mitigated.
The environmental and social due diligence (ESDD) is underway to assess the potential environmental and social issues associated with the project and the Client's current operations. Based on the results of the ESDD, an Environmental and Social Action Plan (ESAP) will be developed and agreed with the Client to address the corrective and mitigation measures that need to be implemented so as to manage relevant E&S risks and achieve compliance with EBRD Performance Requirements.
This PSD will be updated once the ESDD is completed to summarise the outcomes.
Technical cooperation will be sought to assist both M-NAV and the air navigation services regulator in complying with the Single European Sky programme requirements and provide support to the Project Implementation Unit (PIU) during the project’s implementation.
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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