Press Release: Former Yugoslav Republic of Macedonia: EUR 100m MBDP loan for SMEs and Priority lending

The European Investment Bank (EIB) and the Macedonian Bank for Development Promotion (MBDP) signed in Skopje on 25 June, 2009, a EUR 100m loan aimed at financing projects in the Former Yugoslav Republic of Macedonia. The operation was intended to support small and medium enterprises (SMEs) and any size industrial investment in the fields of knowledge economy, energy and environmental protection throughout the country in compliance with EIB eligibility criteria. A minimum of 70% of the loan amount will be allocated to SME projects. MBDP would allocate the funds through selected local commercial banks. The projects will be co-financed up to 50% in partnership with the local commercial banks. For SMEs the EIB financing could cover up to 100% of the total cost of the investment, with a maximum of EUR 12.5 million per project, in line with EIB standard criteria.