The European Investment Bank (EIB) and the Macedonian Bank for Development Promotion (MBDP) have signed today in Skopje a EUR 100m loan aimed at financing projects in the Former Yugoslav Republic of Macedonia.
The operation is intended to support small and medium enterprises (SMEs) and any size industrial investment in the fields of knowledge economy, energy and environmental protection throughout the country in compliance with EIB eligibility criteria. A minimum of 70% of the loan amount will be allocated to SME projects. MBDP would allocate the funds through selected local commercial banks.
The projects will be co-financed up to 50% in partnership with the local commercial banks For SMEs the EIB financing could cover up to 100% of the total cost of the investment, with a maximum of EUR 12.5 million per project, in line with EIB standard criteria.
The MBDP is a financial institution fully owned by the Government, whose mission is to support national economic strategies and objectives.
The financing operations of the EIB in the Country , contribute to facilitating the integration processes with the European Union, and are aimed at helping the Country to accelerate economic activity, reduce unemployment levels, and improve the quality of life of its citizens.
Notes to editors:
The European Investment Bank (EIB), the long-term financing institution of the European Union, supports viable capital investment projects furthering the policy objectives of the Union. In the countries of the Western Balkans, the financing operations of the EIB contribute to facilitating the integration process with the European Union.
The EIB has been active in the Western Balkans for many years – since 1974 – and to date it has financed projects totaling over EUR 3.6bn in the region’s various countries on top of providing finance of EUR 1.9bn to Croatia and EUR 3.2bn to Slovenia. Of total disbursements in the Western Balkans over the past eight years, 49% has gone to the transport sector, 12% to energy, 7% to health and education, 21% to intermediated loans to SMEs, 2% to industry and services and 3% to water and sanitation.