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‘Covid 2’ rescue package larger & won’t shut out sectors

Following the initial recovery stimulus package for the travel, transport, and hospitality industry, the Development Bank created a credit line of EUR 3,000 to 90,000 each to all businesses hit by the economic crisis.

Skopje, 24 April 2020 (MIA) — Following the initial recovery stimulus package for the travel, transport, and hospitality industry, the Development Bank created a credit line of EUR 3,000 to 90,000 each to all businesses hit by the economic crisis.

The call will be officially issued on Friday. Companies are expected to file their applications beginning Tuesday, according to Development Bank director Kire Naumov.

“‘Covid 2’ is not limited to any sector,” Naumov said in a recent TV interview. “The three-year loans will have a 12-month grace period, and the only condition companies need to meet is for their revenues to be down by 30 percent compared to the same month in 2019 or their monthly revenues in 2019.”

The ‘Covid 1’ call is still open, Naumov added, and 1,300 micro businesses have applied for a total of approximately nine million euros.

“On average,” he said, “companies apply for EUR 8,500. Applications for EUR 5,000 predominate, and we’re expecting to be able to support—but I can’t make any promises—more than 600 companies employing a total of six to seven thousand people.”

More details on the ‘Covid 2’ package will be available later today. mr/

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