9th October 2024, Skopje – The first Loan Facility Agreement with Hungarian Export-Import Bank was officialised in Budapest, amounting to EUR 500 million, while initiating discussions regarding the Agreement worth EUR 500 million, expected to be approved by the end of the year.
This was pointed out by Minister of Finance, Gordana Dimitrieska-Kochoska in her address in Budapest, announcing the funds’ availability next week as per the signed Agreement.
“Upon signing the Agreement, we are to send documents for an official disbursement of the funds, all the while having begun talks about the additional EUR 500 million expecting to be approved by the end of the year, followed by their disbursement on the onset of next year. These funds would be used for refinancing the Eurobond, falling due in January 2025”, Minister of Finance said, thus, demonstrating a considerable support provided by the Hungarian Government. “We managed to provide during the first 100 days funds, under remarkably favourable terms and conditions, with 3.25% interest, being an extremely low rate amidst much higher interest rates on the international market”, Dimitrieska-Kochoska said.
She reiterated that the funds are intended for private companies via the Development Bank and the commercial banks, as well as infrastructural projects, covering the municipalities as well.
“Accordingly, we are to expect a particularly substantial support for the economy, greater development, completion of the already launched projects and implementation of the forthcoming ones, as promised during the elections”, she pointed out.
Yesterday in Budapest, the Minister of Finance, on behalf of the Government, signed the Loan Facility Agreement with Hungarian Export-Import Bank, as per the 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.