BAKU, Azerbaijan, September 12. Matteo Patrone, Vice President for Banking at the European Bank for Reconstruction and Development (EBRD), visited North Macedonia on 10-11 September in his first official trip to the country in his current role, Trend reports.
The visit included meetings with Prime Minister Hristijan Mickoski, Minister of Finance and EBRD Governor Gordana Dimitrieska-Kochoska and Minister of Transport Aleksandar Nikoloski. Mr Patrone also signed three financing deals during meetings with private-sector clients.
The agreements included a 20 million euros risk-sharing facility (RSF) with ProCredit Bank Macedonia (PCBM), marking the EBRD’s first RSF with PCBM and the second of its kind in the country. The unfunded facility will allow PCBM to share risk with the EBRD on selected client exposures, with the EBRD providing guarantees for up to 50 percent of the designated portfolio. This structure will enable PCBM to benefit from relief on capital and exposure limits, enhancing its capacity to support local businesses.
As part of the EBRD’s ongoing support for private-sector development in the manufacturing & services sector in the Western Balkans, Mr Patrone signed the third tranche of a loan agreement with Varus DOOEL, an exclusive distributor of Merck’s pharmaceutical and chemical products in North Macedonia and Kosovo and its chemical products in Albania. The new funds will be used to finance the acquisition of additional land to optimise logistics and refurbish the company’s administrative facility. The investment is part of a larger financing package amounting to 4.6 million euros, out of which 2.4 million euros in new financing and it is aimed at supporting the company’s development of a new logistics and warehousing centre and upgrading existing infrastructure. Varus, through its affiliate Bionika Pharmaceuticals, is also active in the production and distribution of medicines, food supplements, over-the-counter products, medical devices and cosmetics, and has been an EBRD client since 2021.
The Bank continues to support clients’ competitiveness in the food and agribusiness sector, through supporting of Makprogres DOO Vinica. Under this partnership, Sparkasse Bank will provide a loan of up to 2.5 million euros to the local food producer, with the EBRD guaranteeing up to 1.25 million euros through an unfunded RSF. The financing will be used to meet Makprogres’s working capital needs, enabling the company to pursue its growth strategy and further contribute to the development of the local economy.
Commenting on the visit, Mr Patrone said: “Our engagement in North Macedonia underscores the EBRD’s role as a key partner in the Western Balkans. This visit provided an opportunity to formalise several important agreements and engage in constructive dialogue with government officials. By strengthening ties across both the public and private sectors, we continue to support the country’s progress toward sustainable and inclusive economic development.”
Since North Macedonia joined the EBRD in 1993, the Bank has invested over 3 billion euros in 205 projects in the country, including 151 million euros through 13 projects in 2024.