Support for financing costs for the improvement of the production process, investments in new renewable energy sources and maintaining the already built renewable-energy power plants, are the goals of the EUR 100 million loan provided by the European Bank for Reconstruction and Development (EBRD) for Power Plants of North Macedonia (ESM).
The Loan Agreement was signed on Tuesday at the Ministry of Finance.
The term of repayment is five years, with a grace period of 6 months and a variable interest rate which includes a six-month Euribor increased by a margin of 1 percent. The state will provide the guarantee, and ESM will use the funds and implement all obligations.
Macedonian Finance Minister Fatmir Besimi pointed out that with the Agreement the Government further demonstrates its serious approach in dealing with the energy crisis.
“Today we secured additional EUR 100 million in support for ESM. The situation is made easier as the EUR 100 million do not need to be taken out of the budget,” Minister Besimi said.
