The Macedonian Bank for Development Promotion (MBDP) has approved the  first funds of its EUR111 million-cheap loans, Vice-Premier and Finance Minister Zoran Stavreski told reporters on Thursday.

Thus far 80 applications for lending funds from the European Investment Bank (EIB) favorable loan of EUR 100million has been submitted, Stavreski said.

“The EIB EUR-100million credit is the main instrument for dealing with the current economic crisis and it is good that it attracts the businesspersons. The first EUR 20 million will be granted in early September”, Mr. Stavreski said, pointing out that about 80 enterprises have applied and will acquire funds for investing in their further development.

Commenting on the possibility for an inflationary wave to hit Macedonia, Mr. Stavreski said that competent state institutions were monitoring the developments on a daily basis in terms of hiking of the global food and oil prices, which have a direct impact on the domestic market.

The Government has been taking a series of measures in line with its competences to mitigate the negative consequences of these developments on the citizens' living standard.