Favorable loans that the Government has secured through the European Investment Bank's (EIB) EUR 100 million credit line are available to Macedonian companies as of Tuesday, following the agreement's signing by Vice Premier and Finance Minister Zoran Stavreski and Macedonian Bank for Development Promotion (MBDP) director Dragan Martinovski.

Companies will obtain the funds at an exceptionally favorable, subsidized interest rate of 5.5 percent and repayment period of eight years, including a two-year grace period. The funds will be allocated though MBDP, whereas companies will submit applications in nine domestic banks.

Vice Premier Stavreski said the project represented a continuation of the first two credit lines distributed by MBDP, adding the third stage of the project focused on supporting the private sector by the Government, thus increasing the liquidity of economy and export.

He voiced expectation that funds would not only be used for liquidity purposes, but also for investments and job openings.

"The Government has secured EUR 250 million in support to Macedonia's economy through this project and the two previous ones over the past 3-4 years", added Stavreski.

MBDP director Dragan Martinovski stressed that 70 percent of the credit line is intended for the SMEs, with the remaining 30 for large companies.

SMEs can use the funds for working capital and investments, large companies can apply for projects in the fields of environments, entrepreneurship and innovations, energy, infrastructure, industry and other service areas.