Skopje, 3 September 2024 (MIA) - The law related to the loan that the country is expected to take from Hungary was approved by the Government at a session Tuesday, according to Prime Minister Hristijan Mickoski who said the law will be submitted to Parliament soon.

Once Parliament adopts the law, Mickoski said, the country’s Finance Minister will travel to Hungary to sign the agreement.

“The conditions are the ones we’ve spoken about – 3.25 percent interest rate, a three-year grace period, 24 semi-annual installments that will be paid every February and August. Currently these are conditions that we can’t even get near to on any other market,” Mickoski said at a press conference.

The loan, according to the Prime Minister, has a development component since a part of it will be used for the development of businesses and municipalities.

The EUR 500 million loan from Hungary was agreed during Prime Minister Hristijan Mickoski’s visit to Washington, where he met with Hungarian Prime Minister Viktor Orban. 

Photo: Government