North Macedonia’s Ministry of Finance announced on July 9 that it received expressions of interest from 16 international financial institutions and commercial banks for financing the ambitious Corridor X high-speed rail project, estimated at €1.9bn.

Corridor X is a critical segment of the Trans-European Transport Network (TEN-T), stretching from Salzburg, Austria through Slovenia, Croatia, Serbia, and North Macedonia, and ending at Greece. The high-speed rail development in North Macedonia is seen as a cornerstone of the country’s broader transport modernisation strategy.

The government has described the project as “transformative”, promising long-term benefits for trade, mobility and economic growth.

The ministry stated that the offers would now be analysed and evaluated in the coming period to determine the best financing solutions for the infrastructure initiative, which aims to modernise the country's rail transport and boost regional connectivity.

The call for financing proposals was sent on the basis of a government decision to 24 financial institutions, with the response deadline set for July 7, 2025.

It was earlier reported among those contacted were some of the world’s leading public and private lenders, including the World Bank, European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), OPEC Fund, French Development Agency (AFD), KfW, Japan International Cooperation Agency (JICA), Morgan Stanley, JP Morgan, and Goldman Sachs, according to 24.mk.

The request included a detailed explanation of the project, jointly prepared by the Ministry of Transport and Communications and the Ministry of Railways Infrastructure.