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News / North Macedonia: EIB Global provides a €1 million technical assistance grant to boost the rollout of green financing for SMEs
EIB Global, the branch of the European Investment Bank for activities outside the European Union, will provide a €1 million technical assistance grant to its longstanding partner, the Development Bank of North Macedonia (DBNM). These funds will facilitate the implementation of climate and environmental sustainability financing under a €100 million credit line that the EIB signed in July this year. By supporting the country’s banking sector to build green finance capacity and small and medium enterprises (SMEs) to identify and develop green projects, this technical support will contribute to private sector growth and competitiveness and the green transition of the local economy.
Through this technical assistance, commercial banks and small businesses will receive training and advisory support for promoting and developing bankable projects in areas such as energy efficiency and renewable energy.
The grant comes as a result of the fruitful cooperation between DBNM and EIB Global, which has enabled the allocation of €550 million to date for the support of over 2 300 local companies. Since 2019 alone, EIB Global has provided €212 million of EU investment to North Macedonian companies through this partnership model, sustaining 46 000 jobs and creating 1 815 new positions.
Photo credits: EIB
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