Macedonia close to ESM‑financed Chebreh and Galishte hydro projects

Prime Minister Christian Micic said Macedonia is near a decision to fund the Chebreh and Galishte hydro‑reservoir projects through the European Stability Mechanism (ESM). The ministries of Energy, Mineral Resources and Mining are working with the ESM to arrange a syndicated loan from several international financial institutions.

Micic described the reservoirs as “new water batteries” that would secure drinking water, irrigate farmland, support tourism and potentially generate electricity, while avoiding a direct budget deficit because ESM financing does not count as public borrowing. He also linked the projects to broader transport corridor plans and noted ongoing talks with local construction firms following a recent summit in Tivat.

The projects have not yet received formal approval or a construction start date, but officials indicated that technical studies are underway and funding discussions are progressing.