EBRD boosts support for green investments in North Macedonia

• Sparkasse Bank Skopje joins Green Finance Facility (GFF) in North Macedonia
• €8 million EBRD loan to support SME investments in renewable energy and energy efficiency
• GFF is funded by the EBRD, United Nations and the government of North Macedonia

The European Bank for Reconstruction and Development (EBRD) is strengthening its support for green finance in North Macedonia with a new €8 million loan to Sparkasse Bank Skopje under the Green Finance Facility (GFF). The funds will enable Sparkasse Bank to on lend to local small and medium-sized enterprises (SMEs) for investments in renewable energy and energy efficiency projects, supporting the country’s transition to a greener and more competitive economy.

The GFF is a programme financed by the Joint SDG Fund, the government of North Macedonia, the EBRD and local partner financial institutions, and is implemented by the United Nations Development Programme, the International Organization for Migration, the United Nations Economic Commission for Europe, the EBRD, and the government of North Macedonia, with support from the UN Resident Coordinator in North Macedonia.

This initiative aims to provide affordable green finance to SMEs and underserved groups for investments that reduce greenhouse gas emissions and air pollution, in line with North Macedonia’s climate goals and the EBRD’s Green Economy Transition (GET) approach. The project is fully aligned with the Paris Agreement and will be supported by technical assistance and investment incentives funded by the Joint SDG Fund, the government of North Macedonia and the EBRD.

Fatih Turkmenoglu, the EBRD’s head of North Macedonia, said: “This new loan under the Green Finance Facility demonstrates our commitment to empowering SMEs to adopt renewable energy and energy efficiency technologies. With this facility extension, we are proud to mark a milestone: the EBRD will have allocated €37 million to support SMEs and their investments in renewable energy and energy efficiency through the GFF. By enabling access to sustainable finance, we aim to drive the green transition and support businesses in growing responsibly while contributing to the fight against climate change.”

Nina Nedanoska, Deputy President of the Management Board of Sparkasse Bank Skopje, said: “With the new Green Finance Facility credit line, we once again confirm our role as a reliable and long-term partner of micro, small, and medium-sized enterprises – the backbone of the economy of North Macedonia. As a bank that stands shoulder to shoulder with businesses at every stage of their development, we remain focused on providing financial solutions that create long-term value – for our clients, for the economy and for the community as a whole.”

Sparkasse Bank Skopje is the fifth largest bank in North Macedonia, committed to supporting the competitiveness and sustainability of SMEs across the country.

The EBRD is a major institutional investor in North Macedonia, with over €3 billion invested in more than 200 projects to date.