Macedonia borrows EUR 23mn from Council of Europe for hospital upgrade.

By bne IntelliNews May 27, 2010
The government announced that it borrowed EUR 23mn from the Council of Europe Development Bank for upgrade of the state-owned hospitals. The 20-year loan has a five-year grace period and carries a floating interest. The CoE loan will cover the financing of the first phase of the hospitals modernisation project. The second and third phases are estimated to cost EUR 130-150mn and the European institution expressed willingness in participating in them, as well.

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