Macedonia negotiates new EIB credit line of EUR 100mn in Q1 2012.

By bne IntelliNews October 19, 2011
A new EUR 50mn credit line from the European Investment Bank ('sIB) has become effective after the loan guarantee was signed on Oct 19, Macedonian state news agency MIA reported. The funding is intended for lending to local SMEs and follows a previous EUR 100mn credit line. Deputy PM and minister of finance Zoran Stavreski said that the Macedonian Bank for Development Promotion (MBDP) will allocate the funds through selected local commercial banks under favorable terms. Stavreski also announced that next year the country will receive a new EIB credit line of EUR 100mn, the applications for which will be launched when 70% of the current line is utilised. The minister expects the new credit line to become effective in Q1 2012.

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