The European Bank for Reconstruction and Development (EBRD) has greenlit a €7 million senior unsecured loan for Sparkasse Bank AD Skopje, marking a significant step towards boosting green investments in North Macedonia. The financing, provided under the Green Finance Facility (GFF), will be disbursed in two tranches: €2 million and €5 million, respectively.
The primary objective of this initiative is to allocate 100% of the loan’s proceeds towards Renewable Energy (RE) and Energy Efficiency (EE) projects, supporting the country’s transition to a green economy. SMEs (Small and Medium Enterprises) in North Macedonia will benefit from sub-loans aimed at enhancing their competitiveness through sustainable technologies.
Sparkasse Bank AD Skopje, the 5th largest bank in North Macedonia by total assets, will play a pivotal role in channeling these funds to eligible projects. The bank’s extensive market presence and expertise will facilitate the deployment of funds to SMEs keen on adopting RE and EE technologies.
In addition to financial support, the project includes technical assistance funded by the United Nations Development Programme (UNDP) and the Government of North Macedonia. This support aims to enhance project preparation and ensure successful implementation of the GFF Facility, reinforcing the capacity of Sparkasse Bank AD Skopje and its clients in navigating green investments.
The EBRD emphasizes that Sparkasse Bank AD Skopje will continue to adhere to strict environmental and social standards, including compliance with EBRD’s Performance Requirements and national EHSL regulations. Annual Environmental and Social Reports will be submitted to monitor ongoing compliance and environmental impact.
This initiative underscores EBRD’s commitment to promoting sustainable development and enhancing the resilience of North Macedonia’s financial sector through targeted green finance interventions.
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