Skopje, 6 December 2024 (MIA) - Prime Minister Hristijan Mickoski said Friday the transfer of the Hungarian loan funds to companies would begin in January, upon completion of required procedures.

"I was an optimist and thought the transfer would start next week but there are some legal procedures that must be completed. It is now certain that the loan's implementation will begin in January," PM Mickoski told a press conference.

According to him, it would be good if companies used these funds to increase their product range and not only to boost their cash flow.

"A designated team within the Government is monitoring the process and will communicate with companies-beneficiaries if they fail to meet the requirements," said Mickoski.

The EUR 500 million loan has a 3.25-percent interest rate, a three-year grace period and a 12-year repayment period. Half of the funds are to be allocated for capital projects in municipalities, whereas the other half is for the business sector.

MIA file photo