8th October 2024, Skopje – Minister of Finance, Gordana Dimitrieska-Kochoska, pays a working visit to the Republic of Hungary on the occasion of signing, on behalf of the Government, the Loan Facility Agreement with the Hungarian Export – Import Bank.
The loan amounts to EUR 500 million and is extended under favourable terms and conditions, with repayment period of 15 years, including 3-year grace period and 3.25% interest. Loan funds will be used to support both the local and regional development projects to be implemented by the municipalities and the business sector – loans to businesses.
Signing the respective Agreement is in compliance with the adopted Law on Borrowing a Loan by the Republic of North Macedonia at the Hungarian Export – Import Bank, private limited company, under the Loan Facility Agreement, to be implemented as part of the planned external borrowing under the 2024 Budget.
Loan funds are to be disbursed by the end of this week.
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