Skopje, 15 June 2023 (MIA) – The Government has secured EUR 100 million from the European Investment Bank intended to help small and medium-sized enterprises overcome the challenges of the energy and economic crisis. On Wednesday, Parliament approved the loan agreement for the funds, said the Ministry of Finance in a press release. 

“These funds will help secure fresh capital for small and medium-sized enterprises, as well as medium market capitalized enterprises and green transition projects in line with the economic measures of the Government of the Republic of North Macedonia protecting consumers and businesses from the energy crisis. The funds mean support for new projects, jobs, increased liquidity, increased exports and a green transition, they will also help maintain the competitive position of the businesses,” said Minister of Finance Fatmir Besimi.

According to the press release, the credit line will be placed through the Development Bank of North Macedonia, and the funds will be available to the end users through the corporate banks with favorable interest rates and longer repayment periods. The companies will be able to use the funds for working capital and for investments, with the goal of providing fresh capital and liquidity support.

This is the seventh EIB credit line realized through the Development Bank of North Macedonia with which the Government’s total support for the private sector stands at EUR 650 million. It also represents a continuation of the Government’s activities in support of business realized through the Development Bank.