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News / EIB reaffirms commitment to green transition in North Macedonia
On a visit to North Macedonia, the Vice-President of the European Investment Bank (EIB) reaffirmed the EU bank’s commitment to green transition. Vice-President Lilyana Pavlova set out the support for decarbonisation from the EIB – the lending arm of the EU – through key projects outlined in the Economic and Investment Plan.
Bilateral meetings with Prime Minister Dimitar Kovačevski and with ministers including Minister of Finance Fatmir Besimi, with the Mayor of Skopje and the Head of North Macedonia’s EU Delegation helped to identify new possibilities for extending cooperation under the new EIB Global branch. The Global Branch aims to increase support for countries outside the European Union.
Vice-President Pavlova highlighted support for the development of modern railway infrastructure, the energy network, and water and wastewater infrastructure to help the country adapt to climate change and protect the environment. The Bank also intends to develop new guarantee and risk-sharing instruments for the private sector in collaboration with the European Commission.
Since the start of the COVID-19 pandemic, the EIB has unlocked €156 million for North Macedonia to enable small and medium-sized enterprises to recover more quickly, and to facilitate the construction of a new gas network essential for stable and secure energy supply. Looking ahead, the Bank will also help its partners in North Macedonia to increase capacity for project preparation and implementation, which will help deliver high-impact investments for the benefit of the country and its people.
Photo Credits: EIB
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