New EUR 18 million extended to domestic companies through DBNM AD Skopje
The Development Bank of North Macedonia AD Skopje has disbursed today the third and fourth tranches in the amount of EUR 18 million from the European Investment Bank loan. The funds are intended for financing small and medium-sized companies and these tranches will provide support to 45 projects of domestic small, medium-sized and mid-cap companies that will create new 145 jobs.
Most of the funds from the tranches were extended to companies in the trade and production segment (EUR 14.7 million). The companies use the funds from the credit line through commercial banks for financing the current assets, with an interest rate of up to 1.6%.
So far, a total amount of EUR 77.1 million from EIB 6 credit lines was disbursed to 227 companies, which should create new 608 jobs.
The loan, which agreement was concluded in 2021 between the DBNM and EIB provided EUR 100 million on favorable terms, such as direct support to small, medium-sized, and mid-cap companies. The loan supports domestic companies from labor-intensive industries such as production, tourism, and services, for fast recovery from the COVID-19 crisis. The EIB loan will help companies to ensure business continuity and job retention, while simultaneously increasing their productivity and expanding their business activities.