Skopje, 26 December 2023 (MIA) – Over the last five years, through the realization of anti-crisis measures and the introduction of new products, the Development Bank of North Macedonia has enabled financial support of EUR 378,8 million for 6.307 companies and 50.529 jobs, said Prime Minister Dimitar Kovachevski at a press conference Tuesday marking the 25th anniversary since the establishment of the Development Bank of North Macedonia. He said the Bank played a significant role in the preservation of the liquidity of companies, retaining jobs and the development of the economy at a time of global shifts.

In the coming period, according to PM Kovachevski, new products and measures worth EUR 215 million supporting 855 domestic companies are expected to be realized.

The Prime Minister welcomed the cooperation between all relevant parties, ministries and international financial institutions, which, he said, are working together in order to build an economy resilient to crises and risks, for the benefit of domestic businesses and citizens.

Kovachevski also highlighted the newly introduced instruments – the popular, green, and structural bonds, aimed towards the development of the market of capital in the country and acceleration of investment activity through the mobilization of private capital.

“Another instrument for an accelerated economic growth is the established guarantee fund at the Development Bank which supports domestic companies and serves to improve and facilitate the access to finances through the corporate banks with guarantees issued by the Development Bank… In order to facilitate the use of guarantees, the Finance Ministry and the Development Bank are preparing measures which will be announced soon,” said Kovachevski, pointing to other measures as well, such as customs guarantees in support of export companies, funds for the realization of investments in renewable sources of energy for small and medium-sized enterprises, energy efficiency and environmental protection.

The Chief Executive Officer of the Development Bank, Kire Naumov, said that since its establishment, the bank has implemented activities providing favorable lines of credit and other bank procedures that enable continued assistance and sustainability for the companies, especially at a time of crisis.

“As part of the current realization with our strategic partner – the European Investment Bank – in the six stages so far and revolving funds from that institution. Just on that basis, the Development Bank has provided EUR 804 million in support of 3.941 projects, as part of which around 12.000 jobs have been created,” said Naumov.

Naumov said the seventh line of credit, worth EUR 100 million, is currently underway with EUR 64.5 million provided to the end users in record time.

“An agreement was also signed with the French Development Agency over new EUR 50 million which are already operational and will be available to user next year through the corporate banks, above all for green and social investments… The process of securing funds from the Council of Europe Development Bank is also in its final stage, and it will provide EUR 50 million for micro, small and medium-sized enterprises in the country,” said Naumov.

The head of the Development Bank said the institution will continue to focus on supporting the country’s economic development through favorable loans, greater assistance for exports, support for green financing, as well as support for processes related to digitization and innovative business solutions.

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