Skopje, 28 January 2025 (MIA) - The Government is expected to okay Tuesday the agreement on the Hungarian loan funds intended for businesses, followed by its signing with banks.

According to the agreement, businesses are supposed to provide 20 percent of the funds required for their projects, with the maximum amount they can receive set at EUR 10 million. The interest rate stands at 1.95 percent, with a three-year grace period and 12 years for repayment.

The funds should have been operational by the end of 2024 but the reason for the delay, as per the authorities, is the enlargement of the scope of companies eligible to apply for the funds, which can be used for new production facilities and equipment but also for renewable energy sources and administrative buildings.

The line of credit for businesses is part of the Hungarian loan in the amount of EUR 500 million. The government signed a Loan Facility Agreement with Hungary’s Export-Import Bank in October of last year. Half of these finances are intended for companies and the other half for municipalities.

MIA file photo