Skopje, 22 December 2023 (MIA) — The Development Bank of North Macedonia has made available funds in the amount of EUR 64.5 million from the country's European Investment Bank loan through the EIB 7 credit line that provides working capital and investment loans to small and midsize enterprises and companies with mid-market capitalization, including green transition.

According to a Development Bank press release, these funds will provide support to 201 projects (94 for long-term investments and 107 for working capital) and will help create 206 new jobs.

The funds from the credit line have been made available through commercial banks and are mostly intended for the manufacturing and trade industries.

The loans are offered at an interest rate of up to 3.5% per year.

The loan repayment period is 12 years for investment loans and mid-cap projects, and 3 years for working capital loans.

Under the loan agreement the Development Bank signed with the EIB on July 24, 2023, EUR 100 million were provided under favorable conditions as direct support to SMEs and mid-cap companies, the release adds. mr/