Macedonia secures US$172.8mn

Macedonia secures US$172.8mn

Published: November 30, 2011

First international loan for Balkan State.

The Republic of Macedonia has secured a €130mn (US$172.8mn) loan from Citi and Deutsche Bank.

The loan, which has a five-year maturity, is Macedonia’s first international agreement.

The deal benefits from a €100mn guarantee from the International Bank for Reconstruction and Development, making it one of the first countries in the Balkans to benefit from the programme.

The loan will be used to meet the country’s budgeting requirements.