Germany To Provide 98.6 Mln Euro in Lending for Macedonian Projects

Macedonia and Germany signed a protocol for financial and technical cooperation that will lead to up to 90 million euro in loans. The funds will be used to finance projects for water supply, waste water treatment, sustainable economic development, energy efficiency, as well as renewable energy projects in Macedonia, the government said in a statement on its web site. The funds will be available in the next few years, depending on the pace of the project implementation, it added.

The second document refers to a 8.6 million euro loan agreement for financing a sustainable water supply in several Macedonian municipalities. The 30-year loan has a 10-year grace period and carries an annual interest rate of 2%. The same loan conditions will be applied for lending under the previous agreement, the government said.

The finding deals were signed by Macedonian Finance Minister Zoran Stavreski and the German Ambassador in Skopje, Ulrike Maria Knotz.

Earlier on Wednesday, EU-aspiring Macedonia received a recommendation from the European Commission for opening of accession negotiations with the bloc.

($=0.6768 euro)