EBRD scales up green investment in North Macedonia
Skopje, 19 December 2023
- EBRD lends €3 million to Sparkasse Leasing
- Latest loan under North Macedonia’s Green Finance Facility
- Supported by UNDP, Joint SDG Fund, and government of North Macedonia
The European Bank for Reconstruction and Development (EBRD) is improving access to green technologies for small and medium-sized companies (SMEs) in North Macedonia by providing fresh funds to a local leasing company, Sparkasse Leasing (SL), the EBRD said in a press release.
Sparkasse Leasing, a subsidiary of the EBRD’s long-term client, Sparkasse Bank Macedonia, will use the Bank’s loan of up to €3 million to support SME investment in renewable energy and energy efficiency technologies.
SL, established in 2009, will be the first leasing company to join the GFF programme. This is the first company in North Macedonia that is offering leases of photovoltaic systems and renewable energy equipment, already contributing to the development of green projects in the country.
The GFF is already starting to attract interest on the market, as this is the third loan under the facility, launched in the country only few months ago. It will be supported with technical cooperation funds and grants by Joint SDG Fund and the government of North Macedonia, both through the UNDP.
The technical cooperation package will include knowledge sharing and awareness-raising about renewables and energy efficiency technologies among SMEs, which will support the green and inclusive economy transition of the private sector in North Macedonia. Additionally, local businesses will receive incentive payments in the form of grants to stimulate investments that will push the green economy transition.
This joint programme seeks to provide access to affordable green finance for SMEs and marketable but underserved target groups of individuals/households for investments in renewable energy and energy efficiency solutions, which will contribute to the reduction of greenhouse gas emissions and air pollution in the country.
The EBRD, a major institutional investor in North Macedonia, has invested around 2.7 billion in over 180 projects to date.
