FYR Macedonia

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

17 Dec 2002



PSD disclosed:

04 Sep 2002

Project Description

Proposed establishment of a greenfield microfinance bank to provide financial services to micro and small enterprises (MSEs) in FYR Macedonia.
By providing permanent access to financial services for MSEs throughout FYR Macedonia, the project will give direct support to private sector development. It will also provide a model to the banking sector, encouraging other Macedonian banks to become more active in this market segment.

Transition Impact

The project is expected to have a significant impact on the transition process. MMB will provide access to financial services to MSEs that would otherwise be excluded from the formal financial sector. MMB will also support the development of the financial sector by operating as a best practice institution committed to the principles of complete transparency and strong corporate governance.

The Client

The Macedonia Microcredit Bank (MMB) will be a newly established bank providing financial services to MSEs. The founding shareholders will be: the EBRD, Internationale Micro Investitionen AG, Kreditanstalt für Wiederaufbau and the International Finance Corporation. MMB will initially start operations in Skopje, with the aim of setting up eight branches/lending offices across the country within the first two years of operations.

EBRD Finance

€1.25 million equity investment to purchase one-fourth of the share capital and a senior loan of up to €7 million under the US/EBRD SME Financing Facility for on-lending to MSEs.

Project Cost

Total initial project costs will amount to €19.5 million, of which the EBRD share is €8.25 million.

Environmental Impact

MMB will carry out its operations in accordance with the EBRD’s Environmental Procedures for Small and Micro Loans. In implementing these procedures, it will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.

Technical Cooperation

Technical co-operation funds for US$ 2.0 million will be provided by the EBRD under the US/EBRD SME Financing Facility.

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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