July 6 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is considering providing up to 5 million euro ($5.67 million) to back municipal infrastructure projects in Macedonia.
"Following the decision of MIDF's (Municipal Infrastructure Development Fund) shareholders to wind down the fund's operations, EBRD is considering assuming MIDF's funded risk participation with Komercijalna Banka (KB) to provide up to 5 million euro to fund municipal infrastructure projects in Macedonia on a 50/50 basis with KB," the EBRD said in a statement late on Wednesday.
The funded risk participation will enable the bank to provide financing to small and medium sized municipalities that have significant investments needs but limited access to financing and poor capacity for preparing good quality projects.
($= 0.8805 euro)
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