The World Bank's approval of US$50 million-loan for Macedonia is yet another proof of the bank's support of the country's sound economic policies, Vice-Premier and Finance Minister Zoran Stavreski told reporters on Friday.

The WB Executive Directors approved the First Programmatic Competitiveness Development Policy Loan (DPL) in the amount of US$50 million for Macedonia in support the Government's program aimed at strengthening the competitiveness of the economy by providing incentives for productive investment and technological upgrading in the manufacturing, agribusiness, and trade logistics sector, and establishing enabling conditions to progressively increase labor market flexibility and skills development.

"WB continues to be one of the top Macedonia's partners, The approved loan indicates that Macedonia is running sound economic policies and this support will help substantially in mitigating the consequences of Europe's economic crisis," Stavreski said.