According to the Government, the total funds to be secured this year through long-term loans for development policies – DPL arrangement, amount to €180 million.

The Government adopted communication on the results of negotiations and the conclusion of a loan agreement with the OPEC Fund for International Development regarding the DPL arrangement.

In accordance with this year’s Budget Law and the Decision on Borrowing, the Ministry of Finance has previously communicated and negotiated with the OPEC Fund regarding the lending conditions and the final agreement.

“The agreement will be concluded for the amount of €50 million, with a repayment period of ten years, including a grace period of 18 months, with a variable interest rate consisting of the six-month Euribor, increased by a margin of one percent, which will be calculated and paid semi-annually,” the Government’s press release reads.

DPLs are financial instruments provided by international financial institutions, such as the World Bank (WB), to countries to support the implementation of political and institutional reforms.

The aim of these loans is to assist countries in implementing structural changes that will encourage economic growth and reduce poverty.