At the COP28 climate conference, EIB Global, the arm of the European Investment Bank for activities outside the European Union, signed a Joint Declaration on the Just Transition Investment Platform for North Macedonia. Initiated by the Government of North Macedonia with technical support from the European Bank for Reconstruction and Development (EBRD), the platform aims to help mobilise up to €3 billion in investments and policy and technical assistance to accelerate the country’s energy transition and the deployment of 1.7 GW in new renewable energy capacity until 2030, along with grid and storage infrastructure. The support package is designed to ensure the positive outcomes of the green transition, while protecting the jobs and livelihoods of affected communities.

As one of the partners of the declaration, EIB Global intends to support North Macedonia in achieving a rapid and just transformation of its energy sector, while ensuring energy security. The Bank has significantly stepped up its engagement with the government, public utilities and the private sector in order to generate new projects in renewable energy, energy efficiency and energy infrastructure upgrades. These efforts have resulted in over €100 million in green investments signed for North Macedonia in 2023 and new technical assistance for sustainable projects.