The European Bank for Reconstruction and Development (EBRD) has allocated €8m to Sparkasse Bank Skopje for the green finance facility in North Macedonia. The funding will support loans for small and medium-sized enterprises investing in renewable energy and energy efficiency. The GFF aims to make financing accessible to SMEs and under-represented groups seeking to cut greenhouse gas emissions and air pollutants.

The GFF pools resources from the Joint SDG Fund, the government of North Macedonia, the EBRD, and local banks. The programme is delivered through partnerships with various organizations and government agencies in North Macedonia. The project aligns with national climate strategies and the EBRD’s Green Economy Transition approach, complying with the Paris Agreement and providing technical assistance.

To date, the EBRD has invested over €3bn across more than two hundred projects in North Macedonia. EBRD North Macedonia head Fatih Turkmenoglu expressed commitment to empowering SMEs to adopt renewable energy and energy efficiency technologies. Sparkasse Bank Skopje, the fifth-largest bank in North Macedonia, will channel funds into SME projects to support sustainability.

Sparkasse Bank Skopje management board deputy president Nina Nedanoska emphasized the bank’s role as a reliable partner for small and medium-sized enterprises. The bank remains focused on providing financial solutions that create long-term value for clients, the economy, and the community. The EBRD also recently provided a €25m unfunded risk-sharing guarantee for Crnogorska komercijalna banka in Montenegro to support MSMEs.

Read more at Yahoo Finance: EBRD allocates $9.3m to Sparkasse Bank Skopje via green finance facility