Macedonia has secured €25m from the World Bank to finance capital projects in municipalities to help improve living conditions. The Macedonian Finance Ministry told municipalities they have until Nov. 7 to submit their applications for Second Municipal Services Improvement Project (MSIP 2) funds. The municipalities will have 13 years to repay the loans, including a three-year grace period, at the current six-month Euribor interest rate.
MSIP 2 is the second stage of the state project. Funds in the first stage were used for 68 capital projects in 53 municipalities, including repairs to local roads, water supply systems and schools.
