Macedonia, EBRD lending 5 million euros for green investments

, SEE Energy News

The European Bank for Reconstruction and Development (EBRD) said that it will provide a 5 million euros loan to North Macedonia’s Sparkasse Bank for investments in increasing energy efficiency of residential buildings.

The statement from the bank said that the funding, provided under the EBRD’s Western Balkans Green Economy Financing Facility (WB GEFF II), will support investments in green technologies, materials and solutions in privately-owned houses and buildings. Borrowers will also be eligible for up to 20 % cashback on successful project completion, financed by the European Union (EU).

Earlier this year, the EBRD extended a 2 million euros credit line for green investments to North Macedonia’s Ohridska Banka, which merged with Sparkasse Bank in mid-July.

GEFF is a 135 million euros program co-financed by the EU, the Western Balkans Investment Framework (WBIF) and the Austrian Federal Ministry of Finance.