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EBRD issues new strategy for FYR Macedonia
EBRD investments in FYR Macedonia will increase over the next two years to
help further promote the country’s transition process and reform agenda.
In its latest strategy for the country, issued today on www.ebrd.com,
the Bank says investments will focus on supporting and attracting local and
foreign businesses, working with the financial sector to develop a wider range
of products and to increase financing for small and medium-sized enterprises
(SMEs). The Bank will also promote infrastructure projects, including
privatisations. There will be a particular focus on projects that benefit
businesses and people, such as roads, airports, as well as on regional
projects.
Through policy dialogue, the Bank will also help push forward the reform
agenda, particularly in areas such as the judiciary system, the fight against
corruption as well as improving the business climate for investors,
particularly SMEs.
Kenji Nakazawa, Head of the EBRD’s office in FYR Macedonia, said the country
has made much progress in recent years in meeting its transition challenges
and must now build on this to promote an investor-friendly business climate
that will attract much-needed investment. The EBRD’s two-year strategy
emphasises the Bank’s commitment to being an important partner for local and
foreign businesses and for FYR Macedonia as it advances in its transition
process and builds on its reform agenda, he added.
Active in FYR Macedonia since 1993, EBRD investments to date amount to more
than €403 million, with €86 million committed between in the last strategy
period from 2004 to 2006, in areas such as power and energy, general
industries and financial institutions. In that period investments rose 27 per
cent from the previous two years.
An important element of the Bank’s work in FYR Macedonia will continue to rely
on support from the donor community. Earlier this year, eleven countries
committed to financing the Western Balkans Multi Donor Fund, set up to help
boost private business investment and infrastructure development in this
region.
In many respects, donor finance is the catalyst that helps drive EBRD
projects, and this is important in helping countries like FYR Macedonia in
their transition process, said Mr Nakazawa.
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