Macedonian companies have fresh EUR 10,7 million at disposal, provided by the Government for improvement of liquidity and competitiveness at the foreign market in time of crisis, along with the already available EUR 100 million secured from the European Investment Bank.

The funds will be allocated through the Macedonian Bank for Development Promotion (MBDP) at favorable conditions and a 3-percent interest rate.

The MBDP recapitalization agreement with the Government was presented Thursday by Vice Premier and Finance Minister Zoran Stavreski to bank's board chairman Oliver Kosturanov.

"We put the EUR 100 million credit line for SMEs at disposal a couple of days ago, and today we launch additional EUR 10,7 million for companies, primarily those dealing with processing of agriculture products", said Stavreski.

According to him, the Government has secured these two credit lines as direct support to the economy in times of disrupted liquidity and difficulties due to the European debt crisis.

"These funds will help about 50 companies that purchase products from farmers. This sector was intentionally selected, since there are seasonal effects regarding the period required from purchase to processing, distribution and payment. During this period, these companies require funds to fill in this gap", added FinMin Stavreski.

MBDP board chairman Kosturanov said the Government funds, used for the bank's recapitalization, provide more opportunities for SMEs to improve and develop their capabilities.