Skopje, 3 October 2023 (MIA) – Following the introduction of development bonds for citizens and green bonds, Minister of Finance Fatmir Besimi announces an introduction of a new financial i.e. new project bonds.

The new project bonds will represent an alternative way for institutional investors to invest in infrastructure projects, Besimi told SeeNews.

“The Finance Ministry plans to introduce a new debt instrument aimed at financing infrastructure projects, as part of a new strategy to diversify its offer on the country's capital market,” Besimi said.

An auction for the country's inaugural green bond will take place on October 3. The Finance Ministry hopes to raise 10 million euro, which will be used to support green corporate projects through the Energy Efficiency Fund of the Development Bank of North Macedonia.

“In July, the ministry sold 1.448 billion denars (23.6 million euro) worth of two-year civic development bonds with a fixed interest rate of 5% per year, more than double the planned amount of 600 million denars,” Besimi said, adding that this is an instrument that will be constantly present on the capital market and will be available to citizens.

The new types of government securities, according to Minister Besimi, are part of the country's Public Debt Management Strategy and Strategy for Development of the Securities Market and in line with its Plan for Accelerated Economic Growth. All these financial instruments, as he said, have a development component and are aimed at supporting projects planned and in line with the budget.

Photo: MIA archive