€2 million loan for investments in new energy efficient and modern equipment
The European Bank for Reconstruction and Development (EBRD) is promoting innovation and supporting energy efficiency improvements at Brako, a leading Macedonian engineering and metal processing company.
A loan of up to €2 million will allow the company to invest in new energy-efficient equipment for drawn wire production and to acquire metal processing equipment to improve production efficiency and quality for the other metal engineered products. The Bank’s investment will support the company’s growth of the higher value-added and export oriented products.
Based in Veles, Brako is the leading Macedonian drawn wire/metal processing and engineering company. Over the past decade Brako has been investing in the development of a new product range, featuring higher value-added metal products such as health mobility systems, metal accessories, conveyor belt systems, telecommunication equipment and equipment for hydro power plants.
Anca Ioana Ionescu, EBRD Associate Director and Head of Skopje office, said: “We’re pleased to support Brako, one of the leading drawn-wire and metal manufacturers in the Western Balkans. Using the most innovative tools available in the market in an energy-efficient way is an important component for a competitive and successful business. We’re certain that this financing will help Brako to further strengthen its product portfolio and exports.”
Koco Angjushev, President of Brako’s Board of Directors, added: “We’re keen to continue upgrading our production facilities through the acquisition of new and more efficient equipment. We want to improve our product quality, reduce operating costs and increase production capacity in line with the growing demand. Thanks to the EBRD we will be able achieve our goals.”
The EBRD began investing in the Macedonian economy in 1993. To date, it has signed 99 projects in the country with a net cumulative business volume of more than €1.6 billion.