EBRD Boosts North Macedonia’s Green Finance With €3.5 Million Loan To Komercijalna Banka AD Skopje

The European Bank for Reconstruction and Development (EBRD) is intensifying its commitment to green finance by providing new funds to Komercijalna Banka AD Skopje in North Macedonia. The EBRD’s loan of up to €3.5 million, part of the Green Economy Financing Facility (GEFF), will support energy-efficiency investments by homeowners, housing collectives, producers, and service providers. This project receives co-financing from the European Union (EU) and Japan.

The loan agreement was signed by Odile Renaud-Basso, President of the EBRD, and Maja Stevkova Sterieva, Chief Financial Officer of Komercijalna Banka AD Skopje and a board member. President Renaud-Basso emphasized the significance of the initiative, stating, “We are proud to maintain our support for North Macedonia’s green energy transition by funding energy-efficiency upgrades in residential buildings, which are the country’s largest consumers of energy. Beyond contributing to a green and sustainable future for North Macedonia, this project provides direct benefits for citizens. By reducing energy bills and making homes more comfortable, these investments will significantly enhance the lives of homeowners.”

Ms. Stevkova Sterieva highlighted the importance of green loans, noting, “I am delighted that Komercijalna Banka is again contributing to the successful implementation of the GEFF programme in our country. This support for green loans is very important, as it helps to make households more energy-efficient, facilitates energy savings and improves the quality of life. We are proud that, with this new offer of loans for energy-efficient homes, we will be helping to reduce the burden on families’ budgets, contributing to efforts to address the challenge of climate change and helping to create a healthier and cleaner environment.”

The loan under the GEFF programme will support high-performing green technologies, materials, and solutions for privately owned residential dwellings and buildings. Investments in energy-saving equipment, such as insulation, windows, heat pumps, and solar panels, will reduce greenhouse gas emissions, cut energy costs, and improve residents’ quality of life. This initiative addresses the high energy and carbon intensity of North Macedonia’s residential and public sectors.

Komercijalna Banka AD Skopje will receive technical assistance to establish a new financing model tailored to green lending in the residential sector. Additionally, support will be extended to construction companies and vendors/producers of green technologies to foster a green transition across the residential sector.

This loan will facilitate the Bank’s Green Economy Transition approach, supported by the Japan-EBRD Cooperation Fund and the EU through the Western Balkans Investment Framework (WBIF). The EBRD’s GEFF programme has improved energy efficiency for over 18,000 homeowners in the Western Balkans region, supported by the EU through the WBIF as part of the Regional Energy Efficiency Programme and bilateral donors.

Komercijalna Banka AD Skopje, the largest commercial bank in North Macedonia with a 22.2 percent market share in total assets, offers a full range of commercial banking services for individuals and companies nationwide. The EBRD, a major institutional investor in North Macedonia, has invested €2.9 billion in 190 projects across the country.