EBRD and EU support SME digitalisation in North Macedonia with first-of-its-kind loan

• Sparkasse Bank Skopje becomes first bank in North Macedonia to join EBRD’s Go Digital in Western Balkans programme, with a €4 million credit line
• Loan is supported by EU and will be on-lent to SMEs for investment in digital and green technologies
• Aims to boost competitiveness of small businesses by driving innovation, sustainability and inclusivity

The European Bank for Reconstruction and Development (EBRD) is providing a €4 million credit line to Sparkasse Bank Skopje to on-lend to small and medium-sized businesses (SMEs) in North Macedonia for investments in digital and automation technology.

The loan is the first to be made in the country under the EBRD’s Go Digital in Western Balkans programme and is supported by incentive payments and technical assistance funded by the European Union. The EU funding is being channelled through the Western Balkans Investment Framework, which in addition to EU grants now also incorporates guarantees for the private sector secured through the European Fund for Sustainable Development Plus.

Go Digital in Western Balkans aims to drive innovation, competitiveness and sustainable growth in the private sector. This includes fostering take-up of new technologies that can enable automation and digitalisation – ensuring SMEs can remain competitive in an increasingly digital landscape – and directing investments towards technology that will support the Green Economy Transition. The initiative also promotes inclusive economic growth by ensuring women-led SMEs have equitable access to finance.

Unlocking finances for such developments helps businesses in the region better align themselves with EU standards, expanding their trade potential, increasing their capacity to compete on a global scale and boosting their resilience and diversity.

The agreement was signed by the EBRD’s Head of North Macedonia, Fatih Türkmenoğlu and by Sparkasse Bank’s Management Board President Sanel Kusturica and Board member Zlatica Civkaroski.

Türkmenoğlu said: “Supporting SMEs in their digital and green transitions is crucial for building a strong private sector. By promoting innovation and sustainability, we are also ensuring that businesses have enhanced access to finance and opportunities for growth. This initiative empowers SMEs to leverage automation and digitalisation, enhancing their competitiveness in both local and global markets, as well as their inclusion in global value chains.”

Kusturica added: “At Sparkasse Bank, we are committed to supporting innovation and sustainable growth, and this collaboration reinforces our dedication to providing financial solutions that empower businesses to thrive. We are proud to partner with the EBRD in this groundbreaking initiative aimed at driving digital and green transformations for SMEs in the country. By facilitating access to advanced technologies and promoting sustainability, we are not only helping SMEs improve their efficiency and productivity, but also contributing to a greener, more resilient economy.”

The EBRD has invested a total of more than €2.9 billion in 197 projects in North Macedonia.