March 24 (SeeNews) - North Macedonia's Development Bank will provide at least 2 million euro ($2.2 million) in loans to local micro, small and medium-sized enterprises (MSMEs) for digitalisation and digital transformation projects, it said on Friday.
The total amount of the new credit line can be increased depending on the interest and demand by the companies, the Development Bank of North Macedonia told SeeNews in an email.
MSMEs can get up to 300,000 euro for loans with a maturity of up to eight years and maximum 100,000 euro for loans that mature in up to five years, the Development Bank said in a press release on Thursday.
The maximum interest rate of the loans is 2.9%, the Development Bank said.
The Development Bank of North Macedonia aims to back the development of the economy through provision of finance to small and medium-sized enterprises and export-oriented companies.
($ = 0.9246 euro)