Highlights
- Komercijalna Banka becomes a partner under Green Finance Facility in North Macedonia
- Komercijalna Banka to on-lend 4 million to SMEs for green energy projects
- The Green Finance facility is a joint programme funded by the EBRD, UNDP, Joint SDG Fund and government of North Macedonia
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for green finance with new funds for Komercijalna Banka AD Skopje in North Macedonia.
The EBRD's loan of up to 4 million under the Green Finance Facility will provide access to finance for eligible investments of local small and medium-sized enterprises (SMEs) in Renewable Energy and/or Energy Efficiency technologies to support the green and inclusive economy transition of the private sector in North Macedonia.
The Green Finance Facility is a UN Joint Programme financed by the Joint SDG Fund, the government of North Macedonia, the EBRD and local partner financial institutions, implemented jointly by UNDP, IOM, UNECE, EBRD and the Government of North Macedonia with the support of the UN Resident Coordinator in North Macedonia.
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 loan agreement was signed by Fatih Turkmenoglu, Head of EBRD office in North Macedonia, and Maja Stevkova Sterieva Ph.D., Chief Finance Officer and Member of the Board of Directors of Komercijalna Banka AD Skopje.
Fatih Turkmenoglu said: "This loan under the Green Finance Facility demonstrates our commitment to empowering small and medium-sized enterprises in the country to adopt renewable energy and energy efficiency technologies. I am very happy that Komercijalna Banka is joining this commitment by providing loans through the GFF for the first time. By facilitating access to sustainable financing, we aim to drive the green and inclusive economy transition, enabling businesses to grow responsibly while contributing to the fight against climate change."
Mrs. Stevkova Sterieva said: "We are proud to play a pivotal role in supporting local small and medium-sized enterprises in their transition to sustainable energy solutions. This financing will enable eligible businesses to access the capital they need to invest in renewable energy and energy efficiency technologies, helping them to reduce costs, improve their environmental impact, and contribute to the transition toward a more sustainable future. As a bank, we are committed to fostering innovation and driving economic growth in our communities by empowering SMEs to take bold steps toward a greener economy."
Komercijalna Banka AD Skopje is the largest commercial bank in North Macedonia. The bank, which has the largest branch network in the country, offers a full range of commercial banking services for individuals and companies across the whole of North Macedonia.
The EBRD is a major institutional investor in North Macedonia. To date, it has invested 2.9 billion in 197 projects across the country.
By Jelena Pajic
