Hungarian Prime Minister Viktor Orban dismissed media speculation that the loan Hungary is extending to Macedonia is coming from China.

We can not give you a Chinese loan. We have an agreement with China that all of their funds in Hungary are used for specific projects. We can and we are giving you European funds, said Prime Minister Orban, during a joint press conference with Prime Minister Hristijan Mickoski.

Hungary lent Macedonia an initial sum of 500 million EUR, with the option to increase the loan. Half of the money will be used for municipal infrastructure projects and the other half – for favorable loans to businesses in Macedonia.