Skopje, 3 November 2023 (MIA) - Small and medium-sized enterprises (SMEs) and vulnerable groups of citizens will have access to loans with a grant component that will allow them to invest in heating pumps, inverters, air conditioners, boilers, solar hot water collectors and photovoltaics with the help of commercial banks, whereas free technical assistance will also be provided to facilitate the process and ensure that means are used correctly, as part of project "Green Finance Facility to Improve Air Quality and Combat Climate Change in North Macedonia".

The Green Finance Facility programme will be implemented starting Friday through April 2026, with EUR 46 million that will be disbursed through commercial banks. Financial support will be provided through the Joint SDG Fund, European Bank for Reconstruction and Development (EBRD), commercial banks and the Government of the Republic of North Macedonia.

The average value of the loans is expected to be USD 11,600, but more detailed criteria on how to apply and technical elements will be released later.

Deputy PM for Economic Affairs Fatmir Bytyqi explained this is a financial mechanism though which the entire ecosystem of banks, product sellers and service providers, including the government, are stimulated to work together with various stakeholders and ensure necessary financial and technical support that will accelerate the transition to innovative solutions for renewable energy and energy efficiency solutions.

"Considering that all countries are dealing with the global crisis, such as the post-COVID economic recovery, energy and economic crisis, I believe this project with its products intended for SMEs and vulnerable groups of citizens is an excellent opportunity to express our strong commitment to accelerate the implementation of the 2030 Agenda and achieve the sustainable development goals. With the implementation of this project, it is particularly important for the private sector and citizens to take active part in the fight against pollution and climate change," said Bytyqi.

According to him, the Green Finance Facility programme "will unlock a private flow of capital from financial institutions, small and medium-sized enterprises, and will help households, especially those from vulnerable categories."

The Deputy PM also highlighted the goals that have to be achieved with this project, which are based on national strategic documents, and the European Green Deal, which is especially important for the start of the EU screening process.

The “Green Finance Facility to Improve Air Quality and Combat Climate Change in North Macedonia” project is implemented by the United Nations Development Programme (UNDP), the International Organization for Migration, EBRD, and the United Nations Economic Commission for Europe (UNECE). ssh/ik/

Photo: MIA and Government