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 to the prime ministers Zoran Zaev and Alexis Tsipras, 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.

“The entry into force of this important agreement is important for the economic perspective of the region and South-East 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 and the region.