Skopje, 17 September 2024 (MIA) - Parliament is scheduled to continue its 14th session, with several items on the agenda, including an expedited draft-law on the 500 million euros loan from Hungary.

The Parliament’s Committee on Finances and Budget on Sept. 13 endorsed the draft-law on the 500 million euros loan from Hungary and forwarded for further procedure.

The total loan amount from the Hungarian Export-Import Bank is 500 million euros. The loan will be disbursed in a single tranche, with a repayment term of 15 years, including a three-year grace period. The interest rate is fixed at 3.25 percent. The Republic of North Macedonia will pay the Hungarian Export-Import Bank, a private limited liability company, a 0.5 percent annual fee on the undrawn loan amount. The fee for undisbursed funds will be calculated on a daily basis on the undrawn portion of the loan, from the date the funds become accessible, and will be payable on the first business day following the end of the availability period. The loan will be repaid in 24 semi-annual installments, due on February 15 and August 15 each year. Additionally, the Republic of North Macedonia will pay a fee for legal services to an independent firm selected by the Hungarian Export-Import Bank, a private limited liability company. The fee for legal services will be paid before the tranche is withdrawn.

Half of the funds from this loan, as explained by government officials, will be used for the development of municipalities, while the other half will be allocated for economic support and budgetary needs.

The opposition accuses that the funds do not actually come from Hungary and that the country is becoming politically indebted to Hungary.

The agenda for the 14th session of the Parliament includes several remaining items, among which are some for which the debate has already concluded and only voting is required, such as the draft amendments to the Law on Free Legal Aid and the draft amendments to the Law on Local Self-Government, both under an expedited procedure.

The agenda also includes the proposal for electing a member to the National Council for Higher Education and Scientific Research, along with the proposal to appoint a student representative to the same council.

Today’s agenda includes a continuation of the 12th session, expected to address only the official withdrawal of approximately ten laws.

Photo: MIA archive