Skopje, 24 October 2024 (MIA) - The World Bank's International Finance Corporation - IFC has expressed interest in expanding its activity in the country, especially in the field of energy and energy transition, said a meeting between the Minister of Finance Gordana Dimitrieska Kochoska and IFC's Regional Vice President Alfonso García Mora in Washington.

"Investments in the energy sector and the transition from fossil fuels to clean energy are necessary processes that require an immediate response at a global level. Macedonia as a country is part of these processes, and the priority is investments in energy and transition to using renewable energy sources. This requires large investments that require support from international creditors and funds, with a particular focus on the private sector," Minister Dimitrieska Kochoska said. 

IFC has expressed interest in further financing projects related to energy efficiency, renewable energy sources, such as solar energy production plants, as well as decarbonization projects, etc., the Ministry of Finance said in a press release. 

"Within those frameworks, USD 80 million are available to the country through the Climate Investment Fund (CIF), so an Investment Plan has been developed in that direction with the aim of accelerating the transition from coal to renewable energy sources. In addition to support in the public sector, IFC expressed interest in cooperation with the private sector and in attracting foreign direct investments, with the aim of ensuring a positive impact on the economic growth and development of the country," reads the press release.

The meeting with the IFC was held as part of Finance Minister Gordana Dimitrieska Kochoska's visit to the United States, where she is participating at the IMF and World Bank Annual Meetings.

Photo: Ministry of Finance