Overview of the program

The European Bank for Reconstruction and Development (EBRD) is providing two loans of €3.5 million combined to ProCredit Bank Skopje in order to support small and medium-sized enterprises (SMEs) to reach EU standards and residential home-owners to make their buildings more energy efficient.

The new funds come at a critical time as private businesses and citizens in North Macedonia feel the economic impact of the COVID-19 pandemic.

The first part of the financial package consists of a €2.5 million loan to increase the competitiveness of local SMEs. Funds will be lent on to businesses to upgrade their production processes and equipment to EU standards, in particular with regards to product quality and safety, health and safety measures and environmental preservation.

These investments are covered by the Western Balkans SME Competitiveness Support Programme, for which the EBRD provides loans and the EU incentive payments and technical assistance. The goal is to help SMEs to modernise their activities and take advantage of trade opportunities in the Western Balkans region and the wider European market.

The second part of the financial package is a €1 million loan to support individual investments in green materials, equipment and technologies for privately-owned residential buildings. It comes under the Green Economy Financing Facility (GEFF), which offers energy and resource-efficient solutions to build a greener and more sustainable economy.

The programme is supported by the European Union, the Western Balkans Investment Framework and the Austrian Federal Ministry of Finance.