The Ministry of Finance has transferred an additional MKD 148.6 million (EUR 2.4 million) to the country’s Development Bank in funds aimed at supporting investments in domestic companies, the Macedonian Ministry of Finance said in a press release Wednesday.
With the latest transfer from the central budget to the Development Bank, the total amount placed in the domestic economy for the realization of investments by companies amounts to MKD 14.5 billion (EUR 235.8 million).
The total budget for the support of domestic companies provided in the Budget amounts to EUR 250 million, and the value of the investment cycle is estimated at approx. EUR 300 million.
The funds provided by the Government and placed with domestic companies on favorable terms are aimed at the realization of private investments, which will ensure their own development and stimulate economic growth. The funds are placed with end users through commercial banks, the interest rate is 1.95% per annum, the repayment period is up to 15 years and the grace period is up to 3 years.
