The European Bank for Reconstruction and Development (EBRD) has announced its approval of a €3.5 million loan to Komercijalna Banka AD Skopje as part of the Western Balkans Green Economy Financing Facility III (GEFF III). This initiative is set to accelerate green economy transitions across North Macedonia by supporting energy efficiency improvements and renewable energy projects.
Komercijalna Banka AD Skopje, the largest commercial bank in North Macedonia with a significant market share, will utilize the loan to provide sub-loans for investments in high-performance energy efficiency technologies and materials. Additionally, funds will support the construction of High Energy Performance Residential Buildings (GET-eligible) and other eligible Energy Efficiency and Renewable Energy projects in the Public Sector. The entire loan amount will be dedicated to Green Economy Transition (GET) investments, focusing on reducing energy consumption and carbon intensity in the region.
The project is expected to have a substantial impact, contributing to EBRD’s strategic goals of enhancing environmental sustainability and promoting economic resilience in North Macedonia. It aligns with EBRD’s Environmental and Social Risk Management Procedures, ensuring compliance with national environmental, health, safety, and labor requirements.
With an Environmental and Social Performance (ESP) 2019 categorization, Komercijalna Banka AD Skopje will oversee the implementation of the loan, supported by technical assistance funded through the European Union’s European Western Balkans Joint Fund (EWBJF) via the Western Balkans Investment Framework (WBIF) and Japan-EBRD Cooperation Fund. This assistance will facilitate project preparation and ensure successful implementation under the WB GEFF III programme.
This collaboration underscores EBRD’s commitment to advancing sustainable development and green investments in North Macedonia, promoting long-term economic growth and environmental stewardship.
