FYR Macedonia

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:




PSD disclosed:

25 Nov 1997


Project Description

EBRD equity investment in a privately owned bank together with an investment from a strategic sponsor.

The capital strengthening of EIB is intended to assist the bank expand its business scope, increase its activities and compete effectively in the market.

Transition Impact

The proposed transaction is expected to have a positive impact on the transition in all areas of EIB's operations but especially in the areas of trade finance and credit, where Ergobank will provide management support and training. The proposed transaction will also improve EIB's corporate governance. The associated demonstration effects will encourage competition in the banking sector and improve the quality and range of services available.

The Client

The client is Export Import Banka A.D. (EIB), Skopje, a small, privately owned joint-stock bank in the Former Yugoslav Republic of Macedonia.

The sponsor and strategic investor will be Ergobank SA, a medium-sized Greek bank rated among the world's 15 most profitable for 1996.

EBRD Finance

DM 8 million (ECU 4.1 million).

Project Cost

DM 24 million (ECU 12.2 million).

Environmental Impact

Export Import Banka will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, the bank will require its borrowers to comply, at a minimum, with national local health, safety, environmental and public consultation requirements.

Technical Cooperation


Company Contact



Business opportunities

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