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New 42.2 million euros extended to domestic companies through DBNM

Skopje, 22.12.2021

 

 

Development Bank of North Macedonia has disbursed today the second tranche in an amount of EUR 42.2 million from the European Investment Bank loan. The funds are intended for financing small and medium-sized companies and this tranche will provide support to 132 projects of domestic small, medium and mid-cap companies that will create 373 new jobs.

Most of the funds from the tranche are earmarked for the companies in the trade and production segment (16.4 million euros). The companies use the funds from the credit line through their commercial banks, for financing working capital with interest rate up to 1.6%.

The total amount of 59 million euros, from the both tranches, was disbursed for 182 companies which are expected to create new 463 jobs.

This loan, which agreement was concluded in 2021 between the DBNM and EIB, provided 100 million euros 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 ensure business continuity and job retention, while at the same time increasing their productivity and expanding their business.