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North Macedonia: EIB Global unlocks €100 million of EU investment with Development Bank of North Macedonia to boost green transformation of SMEs
In cooperation with the Development Bank of North Macedonia (DBNM) and local commercial banks, EIB Global, the arm of the European Investment Bank for activities outside the European Union, will provide €100 million to boost development and the green transition of small and medium-sized enterprises (SMEs) and mid-caps in the country. The funds will address the liquidity and investment needs of local businesses, and finance energy and green transition projects. This will support low-carbon and climate-resilient growth in North Macedonia, in line with the European Union’s Economic and Investment Plan and the Green Agenda for the Western Balkans.
The funds are part of the set of measures adopted by the Government of North Macedonia in 2022 to support households and businesses amid the economic slowdown and the energy crisis. Additional technical assistance will be signed in the coming months to support the DBNM, local commercial banks and Macedonian companies in achieving their green finance ambitions.
This is the seventh cooperation agreement between the DBNM and the EIB. The previous six agreements saw €550 million go towards supporting 2 362 local companies. This is the banks’ first joint credit line with a climate action and environmental sustainability component, aiming to support the green transformation of the local economy. This is the seventh cooperation agreement between the DBNM and the EIB. The previous six agreements saw €550 million go towards supporting 2 362 local companies. This is the banks’ first joint credit line with a climate action and environmental sustainability component, aiming to support the green transformation of the local economy.
Source: EIB
Photo credits: EIB
