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EBRD First Vice-President to visit Skopje
A senior EBRD delegation, led by First Vice-President Varel Freeman, begins a two-day visit to Skopje on Wednesday, 16 April. The visit underscores the importance the EBRD attaches to the development of FYR Macedonia and the Bank’s support for the country’s economic reforms.
The EBRD delegation includes Peter Reiniger, Business Group Director for Central Europe and the Western Balkans, and Claudio Viezzoli, Director for the Western Balkans.
During the visit to Skopje, the EBRD delegation will meet Macedonian state officials, business partners, as well as representatives of the international community in Skopje.
The EBRD is committed to continuing its support for the process of transition and economic reform. The EBRD officials will use this opportunity to present its programmes to boost investments in the country, both in the public and the private sector. The EBRD is planning to increase its activities in FYR Macedonia by financing critical infrastructure projects, including investments in the areas of transport, municipal infrastructure, energy and energy efficiency.
Furthermore, the Bank is ready to inject equity capital in local private companies to support their expansion, as well as to further expand the EBRD activities with local financial institutions. This will provide for better financial intermediation and help stimulate the growth of the real economy.
The EBRD and the Macedonian government are also discussing additional areas of co-operation, including capacity building in the areas of concession and Public-Private Partnerships, promotion of foreign direct investment and a strategy for the energy sector.
The EBRD is placing an increasing focus on the Western Balkans in order to support the development and economic growth of the whole region. The Bank has launched a number of funds and facilities which help deliver projects and transition in the country and the region as a whole. These include the donor-supported €20 million Western Balkan Fund to support infrastructure project preparation, the €65 million EBRD-Italy Local Enterprise Facility to support EBRD’s equity driven investments in local companies and the €75 million Micro-lending Facility to promote micro-lending businesses and institutions. FYR Macedonia is a key country for the EBRD’s operations in the region and the EBRD expects that relevant resources from these funds and facilities will be used for the benefit of FYR Macedonia’s economic growth.
Active in the country since 1993, EBRD investments to date amount to more than €415 million and the Bank has helped generate a further €566 million from other sources. The majority of investments are in key sectors including power and energy, general industries, financial institutions and the private sector.
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