Skopje, 31 January 2025 (MIA) - The Macedonian Banking Association (MBA) said Friday the Development Bank has issued the framework agreement for participation in the line of credit from the Hungarian loan, intended for businesses.

The banks, according to the MBA, will sign agreements with the Development Bank in line with their internal procedures, after which they will make the funds available to businesses.

Finance Minister Gordana Dimitrieska-Kochoska told journalists Friday that the process of signing framework agreements with the banks has begun.

The Minister stressed the funds will not be able to be used for refinancing. The banks will decide which projects to finance, while the Ministry of Finance will receive information about the areas the projects are in.

“The state can only be informed about the industry the companies who receive the loans are in, so we can carry out an analysis over which sectors can be expected to produce positive results for the overall economy in the future. The risk lies with the banks, they decide who to give loans to and whether the businesses have well-founded plans. There is no risk for the state. The state cannot and has no right to meddle in this area,” Dimitrieska-Kochoska said.

Photo: MIA Archive