Skopje, 15 December 2023 (MIA) - Supporting international financial organizations is crucial in the process of encouraging and securing finances in the implementation of green transition, which requires significant investments. This was pointed out at a Friday meeting between National Bank Governor, Anita Angelovska-Bezhoska, Vice-Governors Ana Mitreska and Fadil Bajrami, Chief Economist Aneta Krstevska, and a delegation of top representatives of the International Finance Corporation (IFC), including Regional Director for Central and Eastern Europe, Rana Karadsheh Haddad, Regional Manager for the Western Balkans, Nicolas Marquier, and Country Officer for Kosovo and North Macedonia, Visar Perani.

Participants in the meeting highlighted IFC's support for North Macedonia through private sector development projects and green transition projects, the National Bank said in a press release.

Governor Angelovska-Bezhoska briefed interlocutors on the progress of the central bank's activities related to climate change, as one of its strategic priorities. She mentioned the latest measures related to the regulatory requirements for banks to incorporate and report on climate risks, including the adoption of its 2023-2025 Mid-Term Plan. The plan is a comprehensive framework for the central bank's management of climate risks, incorporating multiple activities for climate risk regulation and supervision, including climate risk stress testing of domestic banks.

"IFC expressed support for the central bank’s activities in dealing with climate risks, in order to achieve its primary goal of financial stability. Numerous concrete steps have been taken towards strengthening the banks' resilience to climate risks and building their capacities for financing green transition. The IFC team also mentioned future projects in the field of green finance and sustainable farming, noting that IFC will remain committed to the development of our country," the press release reads.

National Bank representatives expressed interest in establishing cooperation over financial education and inclusion, particularly in terms of gender equality and inclusion of people with disabilities. IFC welcomed the initiative and expressed willingness for further coordination. ssh/nn/

Photo: National Bank