Project Description
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.
Transition Impact
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 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.
Budget
Budget: up to €13.35 million.
Deadline: 19 July 2013
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