On 4 May 2015, the Macedonian Bank for Development Promotion lowered the export factoring interest rate from 7% to 6% per annum. The export factoring interest rate is the rate which Macedonian export-oritented business entities pay as part of the export factoring support (i.e. a form of trade finance loans with recourse, offered to entities for their exporting activities) that the Macedonian Bank for Development Promotion offers to them exclusively.