Macedonia has undertaken the management of EU's Instrument for Pre-Accession Assistance for Rural Development (IPARD) funds, said the Agency for Financial Support of Agriculture and Rural Development in a press release.

The decision was passed in Brussels on December 18, whereas the IPARD body within the Ministry of Agriculture, Forestry and Water Economy and the Agency for Financial Support of Agriculture and Rural Development are competent for the funds' allocation.

The first agreements on use of the IPARD funds are to be concluded in May-June of next year.

The envisaged budget amounts to EUR 24,32 million, of which 75 percent are provided from IPARD and 25 percent from the Macedonian Budget.