31st March 2022, Skopje – Interest-free and favourable credit lines have been made available for the companies, thus being provided support in times of energy crisis, as envisaged in the latest set of measures adopted by the Government. Credit lines are provided through the Development Bank of North Macedonia, for which the Government adopted an information at a session the day before yesterday, thus entrusting the Ministry of Finance to sign the agreements with DBRNM, for their implementation.
It is a matter of three credit lines designed as support to the private sector, such as:
interest-free working capital credit line geared towards companies directly affected by the energy and the economic crisis via direct crediting from DBRNM, amounting to EUR 5 million, interest-free working capital credit line intended for the increased prices of the energy products via participating banks, amounting to EUR 10 million, with the third credit line for energy efficiency and renewable energy sources via participating banks, amounting to EUR 10 million. However, given the manner, in which these credit lines have been created, its purpose is, in addition to the budget funds of EUR 25 million, to generate additional twice as high funds, amounting to over EUR 40 million, thus yielding positive impact on the economy.
Working capital credit line for companies affected by the energy and the economic crisis via direct crediting from DBRNM, is intended for micro, small- and medium-sized companies, sole proprietors, craftsman operating in the field of food production as per the activity code. It is worth mentioning that the final beneficiaries will be extended interest-free funds, i.e. the interest accounts for 0% with 6-month grace period, whereby depending on the repayment period, a grant component of 10% or 20% is envisaged therefor.
Under the interest-free working capital credit line intended for the increased prices of the energy products, EUR 10 million has been provided for micro, small- and medium-sized companies, as well as sole proprietors and craftsmen. Funds will be made available through the commercial banks expressing interest for participation therein, which should participate with 50%, i.e. the total effect in the business sector will amount to EUR 20 million. It is envisaged for the banks to calculate an interest rate of up to 3.5% per year for their share of the credit (or of up to 1.75% of the total credit in average), which will be fully subsidized towards the commercial banks, thus the final interest rate for the final beneficiaries, i.e. the companies, will account for 0%.
Third credit line intended for investments in fixed assets, i.e. energy efficiency and renewable energy sources, amounting to EUR 10 million, is geared towards micro, small-and medium-sized companies, as well as sole proprietors and craftsmen, as well as private health institutions. It also will be made available via the commercial banks, whereby 60% of the Project will be funded via his credit line, with 40% as investor’s own funds or as a credit from the participating bank. Terms and conditions under which the credit will be made available to the final beneficiary is the repayment period of up to 8 years with a 12-month grace period for energy efficiency, and 12-year repayment period with a 24-month grace period geared towards projects for renewable energy sources. Interest rate to be charged on the final beneficiaries by the participating banks, accounts for 1.6% per year.
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