The North Macedonian government will be providing €1.26m in interest-free loans to small and medium-sized companies (SMEs) through the country’s Development Bank. The bank has been ordered to conclude loan contractors with borrowers who meet the criteria set by the bank. In all, 136 SMEs employing 1,737 people have been approved for the interest-free loan program called COVID1. Of the 136 applications approved, 96 percent of the recipients employ fewer than 50 people, which is in line with the government’s goal of supporting primarily micro and smaller companies. New applications will be processed on a weekly basis until the credit line is exhausted. The first companies whose applications were just approved will be contacted by the end of the week.
