Foreign governments turn out to be Macedonias biggest investors.

By bne IntelliNews April 13, 2010
The foreign governments, state agencies and international financial institutions have given Macedonia over EUR 3bn in loans and grants, while the FDI to the country amount to EUR 2.5bn since the countrys independence, Nova Makedonija daily said in an analysis. The difference between the two sources is actually even bigger as 72% of the FDI are privatisation revenues and the greenfield investments are actually quiet low. Among the state authorities the biggest lenders and donators have been the World Bank, USAID, the EU, EIB, the Netherlands and Germany. Most of the funding that they provided was utilised for development and improvement of infrastructure and utilities, boosting the competitiveness of the domestic economy and improvement of the central and local governments. The World Bank has so far extended EUR 750mn in loans and EUR 130mn in grants since 1993. EIB began its operation in Macedonia in 1998 and for 11 years has approved EUR 240mn for road and power transmission infrastructure upgrade plus EUR 100mn for SMEs. A total of EUR 870mn have been allocated by the EU since 1992. USAID has provided EUR 374mn since 1993 for attracting FDI, creation of jobs, fight against corruption and improvement of education.

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