The European Bank for Reconstruction and Development (EBRD) with a mix of policy engagement, technical assistance and investment is to support North Macedonia towards EU accession.
For this purpose, EBRD has signed a Memorandum of Understanding with the government of North Macedonia on Tuesday to boost the country’s European Union (EU) accession drive.
The document was signed in a virtual ceremony by PM Zoran Zaev and EBRD President Odile Renaud-Basso in attendance of Finance Minister Fatmir Besimi and EU Ambassador David Geer addressed the event.
The cooperation between North Macedonia and the EBRD will focus on three areas: strengthening private sector competitiveness and inclusive growth; sustainable infrastructure, the green economy and just transition, including regional connectivity priorities; and strengthening the investment climate and governance.
The government of North Macedonia and the EBRD will also cooperate to improve the investment climate, promote cross-border trade and investment and engage with state-owned enterprises in the energy and infrastructure sectors to improve their corporate governance.
EBRD President Renaud-Basso welcomed the agreement: “We are encouraged by the steps North Macedonia is taking towards the EU accession and we are pleased to support these vital efforts with our contributions. In these demanding times it is more important than ever that we all join forces not only to rise to the current challenges, but also to realise the country’s long-term goals.”
PM Zaev underlined the importance of implementing the priorities in the agreement, underscoring the rule of law, reducing corruption, strengthening transparency and resolving the issue of the shadow economy, as a precondition for improving investment activity.
Zaev noted that despite the numerous challenges and uncertainty related to pandemic, the government is committed to contribute to overall economic growth through systemic measures in the medium to long-term.
The EBRD is a major institutional investor in North Macedonia. To date, it has invested more than €2 billion in 136 projects in the country.
