Ministry of Finance has communicated that another 2.9 million euros in investment support for domestic companies have been made available. The funds come originally from the Hungarian loan and have very favorable conditions.
The Ministry of Finance announced on August 12th that it has made a new transfer in the amount of 2.9 million euros from the central budget to the Development Bank to support investment projects in domestic companies. The funds are for the realization of private investments . A total of 250 million euros are planned in the Budget for this purpose.
The funds provided in the Budget, which are placed through the Development Bank and the network of domestic commercial banks to the end users. The funds of the companies are placed on favorable terms with an interest rate of 1.95 % and a repayment term of up to 15 years with a grace period of up to 3 years.
The new Hungarian government is currently investigating the loan which funds this initiative. The Macedonian state received the loan with more favorable conditions than the Hungarian state has to pay to borrow it and the Hungarian taxpayer has to carry a cost of 247 million Euros, EuropeanWesternBalkans reports.
The Macedonian government gives another subsidy to companies who take this loan.
Due to the legal structure of the loans, the political issue should not be of concern to Macedonian companies who take their loans under this program from Macedonian commercial banks and comply to usual loan regulations.
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