EBRD supports Sparkasse Bank AD Skopje in green energy financing initiative in North Macedonia

The European Bank for Reconstruction and Development (EBRD) has approved a major financing initiative to promote green energy investments in North Macedonia. Sparkasse Bank AD Skopje, the country’s fifth largest bank, will receive an unsecured senior loan of up to €4 million under the Western Balkans GEFF III REpower Residential.

The main objective of the project is to provide sub-loans that will finance various investments in the Green Economy Transformation (GET). These include technologies, materials and high-performance energy-saving solutions for residential buildings, as well as renewable energy projects in the public sector. The financing is expected to significantly reduce energy consumption and carbon dioxide emissions in the residential and public sectors of North Macedonia.

Sparkasse Bank AD Skopje, known for its strong market presence and satisfactory environmental and social management practices, will oversee the implementation of the loan. The bank is required to comply with the EBRD Performance Requirements and submit annual environmental and social reports.

Technical cooperation and grant funding from the European Union (EU) through the European Western Balkans Joint Fund (EWBJF) will support the preparation and implementation of the project. This initiative underlines the EBRD’s commitment to promoting sustainable development and green investments in the Western Balkans region, contributing to the overall objectives of the Green Economic Transformation.

The aim of the project is to increase energy efficiency and the use of renewable energy sources in North Macedonia, which will contribute to economic development while reducing the impact on the environment.

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