The Deputy Prime Minister and Finance Minister Zoran Stavreski of the FYR of Macedonia signed a loan agreement for the World Bank Southeast Europe and Caucasus Catastrophe Insurance Facility Project. The agreement was co-signed by Lilia Burunciuc, the World Bank Country Manager for Macedonia. The $5million loan will finance Macedonia's membership contribution to Europa Re, thus allowing the company to complete its capitalization as a reinsurance company under the Swiss law. Read the full story here.