€2 million loan under EBRD Western Balkans Green Economy Financing Facility
Ohridska Banka Société Générale is joining the efforts of the EBRD and the Macedonian banking sector to make the country’s economy greener.
Joining the EBRD Western Balkans Green Economy Financing Facility (GEFF) today, Ohridska Banka Société Générale will receive a €2 million loan for on-lending to support investments in green technologies, materials and solutions by private home owners. The building stock in the FYR Macedonia is in urgent need of refurbishment and the introduction of new technologies such as insulation is expected to lower costs and improve comfort.
Ohridska Banka is a fully-owned subsidiary of the French banking group Société Générale and a long-standing partner of the EBRD in the Macedonian economy.
Anca Ioana Ionescu, Head of the EBRD’s office in Skopje, said: ”We are very pleased to sign this loan agreement today. It will deepen our impact on the establishment of a green economy in FYR Macedonia and will also intensify the relationship with our long-standing partner Ohridska Banka Société Générale. We are convinced that this will create mutually beneficial and successful cooperation in a new area.”
Branka Pavlovic, President of the Management Board of Ohridska Banka Société Générale said: “Ohridska Banka Société Générale has confirmed its social responsibility with many projects up till now. With this new project we will further support “green financing; this time in the sector of private home owners. At the same time, we are convinced that the new loan will provide good support for our new product, in terms of a favourable price and grant component for the first time in the household sector. We believe this is another success story with the EBRD”.
The EBRD Green Energy Financing Facility (GEFF) for the Western Balkans (launched in 2017, €85 million) is designed to help local households, housing associations and service providers invest in energy efficiency measures and renewable energy projects. Loans are provided via local financial institutions and are backed by incentives from the European Union to beneficiaries upon successful completion of renovation projects.
The EBRD is a major institutional investor in FYR Macedonia. To date, it has invested €1.6 billion in more than 100 projects there.