The European Bank for Reconstruction and Development (EBRD) has launched a financial initiative to boost green energy investments in North Macedonia. Sparkasse Bank AD Skopje, the country’s fifth-largest bank, will receive a senior unsecured loan of up to €4 million under the Western Balkans GEFF III REpower Residential framework.
The primary goal of this project is to provide sub-loans for green economy transition (GET) investments. These investments will focus on high-performance energy efficiency technologies, materials, and solutions for residential buildings, as well as renewable energy projects in the public sector. The funding is expected to significantly cut energy consumption and carbon emissions in North Macedonia’s residential and public sectors.
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Sparkasse Bank AD Skopje, recognised for its strong market presence and solid environmental and social management practices, will oversee the loan’s implementation. The bank must comply with the EBRD’s Performance Requirements and submit annual environmental and social reports.
The project will also benefit from technical cooperation and grant financing from the European Union (EU) through the European Western Balkans Joint Fund (EWBJF), supporting both preparation and implementation phases. This initiative highlights the EBRD’s commitment to promoting sustainable development and green investments in the Western Balkans, aligning with the broader goals of the Green Economy Transition.
The project aims to enhance energy efficiency and renewable energy adoption in North Macedonia, driving economic development while reducing environmental impacts.
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