Minoski: New EUR 72 million for small- and medium-sized enterprises

Washington, 23rd April 2017 (MIA) – New EUR 72 million for favourable loans for small- and medium-sized enterprises will be provided through the European Bank for Reconstruction and Development, this was announced by Minister Kiril Minoski, who participates in the Spring Meetings of the World Bank Group and the International Monetary Fund in Washington.

It is a program of the European Bank for Reconstruction and Development (EBRD) in the total amount of EUR 360 million, supporting the Western Balkan countries, whereby Macedonia is entitled to use 20% of the funds.

- Macedonia has already submitted the application – the Action Plan to EBRD Board of Directors. The Program contributes to resolving part of the array of issues related to the access to finances, which are of vital importance for the private sector, being the backbone of the Macedonian economy and almost all economies worldwide, Minoski said.

Favourable loans for small- and medium-sized enterprises will be offered in the national currency through the commercial banks, directly through EBRD, or on the basis of 50-50% co-financing by EBRD and the banks. Interest rate is preferential, ranging between 4-5%.

EBRD does not request any loan agreement of sovereign guarantee for the program funds.

Favourable loans for SMEs in Macedonia were also realized through EIB credit line in the amount of EUR 350 million.