Brussels, 29/06/2001 (Agence Europe) - The European Investment Bank (EIB) announced Thursday that it was preparing to grant a 20 million euro loan to the former Yugoslav Republic of Macedonia (FYRM), to finance small and medium size investments made by companies in the private sector and local communities. Initially the funds will be channelled via the Stopanska Banka a.d. Skopje and de Komercijalna Banca a.d. Skopje, which account for over half the national loan market. Other banks will be able to take part at a later date.
This first loan to the private sector of FYRM enables the EIB to « diversify its areas of intervention and its clientele in the FYRM where to date it has mainly relied on the transport sector with two priority road projects at a total cost of 130 million euros », writes the Bank in a communiqué, adding that this loan uses the residual balance available on the 150 million foreseen by the financial protocol agreed between the EU and the FYRM in December 1997 and which falls due on June 30.
By virtue of the mandate granted to it by the Council for the period 2000-2007, the EIB can provide loans of up to 8.7 billion euros in South-East Europe. So far 85 projects have been developed for this region at a total of 4 billion euros.