Macedonia’s Ohridska banka gets €13 million for SME credit

By Svitlana  Pyrkalo
@pyrkalo

Small and medium-sized enterprises (SMEs) in FYR Macedonia continue to be hungry for credit. The EBRD is extending two separate financing facilities to help the ambitious SME-oriented bank, Ohridska Banka, extend more credit to its customers.

One facility – a €10 million credit line for SME loans – will be used to finance capital investments, export and pre-export financing needs of FYR Macedonian SMEs.

The second facility, a €3 million loan under the Private Sector Support Facility (PSSF) will be an extension of the current €5 million PSSF line that Ohridska Banka has been utilising successfully in the past two years. The proceeds of the PSSF loan will be used to support the development of FYR Macedonian businesses with investments to improve environmental, health and safety standards and product quality in line with EU requirements.

This double package of financing will enable Ohridska Banka to accommodate existing and future clients’ needs.

Filip Kotora, member of the Board of Directors of Ohridska Banka said: “Ohridska Banka, member of the Societe Generale Group, is committed to stand by its SME clients and help them grow strong and competitive for a new world that lies beyond the crisis. Many clients have come forward recently with bold new investment projects grounded in sound financials. These companies deserve our support. To help them achieve their ambitions, Ohridska Banka has arranged new competitive funding with the EBRD with whom we share an abiding commitment to the future of Macedonian business.”

Elena Urumovska, head of the EBRD’s Skopje Resident Office said: “Ohridska Banka is the EBRD’s most active partner bank in FYR Macedonia. Together, we have already provided €15 million in loans to local enterprises; these new transactions will provide additional financing to SMEs, especially in the loan segment of up to €1 million.”

Ohridska Banka a.d. Ohrid is an existing client of the EBRD and has previously completed three transactions with the Bank.

Since the beginning of its operations in FYR Macedonia, the EBRD has invested over €1.1 billion in the country in more than 80 projects.

*Western Balkans Private Sector Support Facility is a framework that supports businesses in implementing energy efficiency and small-scale renewable energy projects and improving competitiveness.