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World Bank to invest 420 mln USD worth projects in North Macedonia

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Christian Fernsby |
North Macedonia border
Europe   North Macedonia border

North Macedonia's Finance Minister Dragan Tevdovski welcomed the approval of the new four-year Country Partnership Framework (CPF) for North Macedonia by the World Bank Board of Executive Directors, which incorporates projects amounting to around 420 million U.S. dollars.


According to Tevdovski, the funds will support projects that will improve the living standards of the citizens and achieve fair growth.

"This will be realized through investments in better infrastructure, business environment, education and other projects that will generate higher economic growth," Tevdovski said.

According to the World Bank press release, the objective of the CPF is to support the fast, inclusive, and sustainable growth of North Macedonia.

"The strategy aims to support North Macedonia's government program and medium-term strategy by creating greater opportunities to improve citizen's living standards and accelerate income convergence with the European Union (EU)," reads the press release.

On Thursday the World Bank Board of Executive Directors endorsed the CPF for North Macedonia for the period between January 2019 and June 2023.


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