BAKU, Azerbaijan, October 14. The European Bank for Reconstruction and Development (EBRD) has approved a senior unsecured loan of up to 1.5 million euros under its Green Finance Facility (GFF) in North Macedonia, Trend reports citing the EBRD's latest reports.
The funding will be provided in a single tranche and is fully dedicated to Green Economy Transition (GET) investments.
The loan will enable Sparkasse Bank AD Skopje (SBS), the fifth-largest bank in North Macedonia, to provide sub-loans to small and medium-sized enterprises (SMEs) for investments in renewable energy (RE) and energy efficiency (EE) projects.
With an ETI score of 65, the project contributes primarily to the Green transition quality by addressing the high energy and carbon intensity of North Macedonia’s private sector. The initiative also supports the Competitive transition quality by strengthening SBS’s capacity to finance green investments and helping SMEs become more competitive through the adoption of RE and EE technologies.
The total project cost is 1.5 million euros, fully covered by the EBRD loan.
This project forms part of the EBRD’s ongoing efforts to promote sustainable finance, reduce carbon emissions, and support the green transformation of the private sector in North Macedonia.
