April 24 (SeeNews) - Macedonia applied for 72 million euro ($78.3 million) in funding under a programme of the European Bank for Reconstruction and Development (EBRD) designed to support small and medium-sized businesses (SMEs) in the Western Balkans, the country's finance minister said.
Macedonia has the right to obtain up to 20% of the total 360 million euro programme funding, Kiril Minoski said on Sunday, according to a statement published on the website of conservative party VMRO-DPMNE.
The loans to the enterprises under the EBRD programme will be in local currency and will bear an interest rate of 4-5%.
Credits will be offered directly by EBRD or through the local banks, the government official also said.
($ = 0.9195 euro)