The Development Bank of North Macedonia has provided a total of EUR 44.1 million via the Covid 1, 2 and 3 credit lines to support over 4,000 companies and 36,802 workers, Deputy PM for Economic Affairs Fatmir Bytyqi’s office said in a press release on Friday.
Financial support, the press release read, has helped enterprises retain liquidity amid the coronavirus crisis. COVID-19 loans have a zero interest rate and a grace period of six to twelve months, which has been additionally been prolonged by three months for Covid 1.
A report on the performance of the Covid 3 credit line, it added, has been submitted to the government. It provided loans for 2,703 businesses employing 19,031 workers. The total worth of loans stands at EUR 30.6 million. 3,282 loan requests were submitted of which 97% have been reviewed. Of these, 2,703 were approved, while 489 didn’t meet the requirements of the public call.
Most loans were granted to small enterprises – 1,422 (53%), followed by micro enterprises 1,051 (39%), sole proprietors – 171 (6%) and artisans – 58 (2%).
Moreover, most of the companies that have been granted loans are from the Skopje region.
“Zero-interest credit lines have proven to be an excellent tool in overcoming the crisis, ensuring liquidity of micro, small and medium enterprises, sole proprietors and artisans and helping them retain workers. A total of EUR 44 million have been provided to support 1,943 micro enterprises, 1,783 small enterprises, 75 medium enterprises, 219 sole proprietors and 58 artisans, with a total of 36,802 workers,” the press release read.
