The President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti said on Tuesday that the ratification of the Athens – Skopje deal on the new name for the Former Yugoslav Republic was necessary for the stability and economic perspective of both Greece and Macedonia, the Beta news agency reported.

Congratulating prime ministers Zoran Zaev of Macedonia and Alexis Tsipras of Greece, Chakrabarti said their agreement should increase investors, trust, and open a possibility for new cross-border projects and regional integration, Macedonia’s government said in a statement.

“Implementation this important agreement is important for the economic perspective of the region and the southeast Europe,“ he said.

Chakrabarti confirmed the EBRD “firm commitment” to supporting Macedonian and Greek economies and the banks’ readiness to intensify the cooperation in the interest of those two countries, as well as the region.

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