The funds will be available for green investments in the country’s residential sector. This will include investments in high-performance green technologies, materials and solutions undertaken in privately-owned residential dwellings or buildings.
Andi Aranitasi, EBRD Head of North Macedonia, said: “We are pleased to expand our green activities in North Macedonia and to welcome Komercijalna Banka Skopje on board. Supporting green investments is one of our key priorities and we are glad that the largest Macedonian bank is joining us in this endeavour. Connected to this, overcoming the coronavirus pandemic and building back the economy are also our focus. Green recovery is one of the ways to heal the economy and this loan is a step in that direction.”
Komercijalna Banka Skopje is the largest bank in North Macedonia and the fifth bank in the country to join GEFF. The programme in North Macedonia is part of the EBRD’s €85 million Western Balkans Green Economy Financing Facility launched in 2017, a joint initiative by the European Union (EU), the Austrian Federal Ministry of Finance and beneficiary countries cooperating under the Western Balkans Investment Framework (WBIF).
As of the end of November 2020, GEFF in North Macedonia has reached almost 1.600 households and provided loans of more than €11 million for almost 1.600 individual projects that contributed to savings of over 7 million kWh of energy and a reduction of over 3,000 tons of CO2 emissions per year.
The most frequently financed technologies are windows and doors, insulation and heat pumps.
GEFF is implemented under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), funded by the EU and implemented in partnership with the Energy Community Secretariat.
REEP Plus has also delivered policy support for harmonising North Macedonia’s law on energy efficiency and regulations for energy efficiency in buildings with the relevant European directives.
The EBRD is a major institutional investor in North Macedonia. To date, it has invested €2 billion in 137 projects in the country. Supporting green energy is a priority for the Bank as it addresses one of the country’s most pressing challenges.
Supported by
By using this site, you confirm that you accept our Terms and Conditions as well as our Cookies Policy AcceptRead More
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.