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Macedonian fiance ministry urges municipalities to apply for capital projects

Xinhua, September 8, 2016 Adjust font size:

The Macedonian Ministry of Finance made a public call Wednesday to municipalities inviting the latter to apply for funds for the second project to improve municipal services (MSIP 2).

The Finance Ministry said in a press release on its official website that the funds worth 25 million euros (28 million U.S. dollars) were provided by the World Bank, while it explained that they will be used for capital projects in municipalities to improve living conditions.

The conditions under which municipalities can apply for funds from the project are extremely favorable, the ministry said, adding that the repayment period will be for 13 years including a grace period of three years and an interest rate equal to the interest payable by the Republic of Macedonia to the World Bank.

The municipalities who present first their projects and technical documentation in accordance with the criteria of the project will be the first to receive funds.

The ministry also said that the deadline for submission of applications by municipalities is no later than Nov. 7, 2016.

MSIP 2 is a continuation of the project to improve municipal services PMU 1, which was worth 56 million euros . The funds from the PMU 1 supported 68 capital projects in 53 municipalities, the ministry said. (1 euro = 1.12 U.S. dollars) Endit