- EBRD lends up to €4 million for onward lending to households in North Macedonia
- Loan seeks to improve green standards, reduce CO2 emissions and improve quality of life in North Macedonia
- European Union and Japan provide incentive grants to make households’ investments more affordable
The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and Japan are stepping up support for green finance in North Macedonia with new funds for NLB Bank AD Skopje.
The EBRD’s loan of up to €4 million to NLB Bank AD Skopje will support energy-efficiency investments by homeowners, housing collectives, producers and service providers. In addition to loans, borrowers will receive cashback incentive grants of up to 20 per cent of total investment, funded by the European Union (EU) and Japan.
The loan agreement was signed by Matteo Colangeli, EBRD Regional Director for the Western Balkans, and Toni Stojanovski, CEO, President of the Management Board of NLB Bank AD Skopje.
“This loan will support Macedonia’s green energy transition by funding energy-efficiency upgrades in residential buildings, the country’s largest energy consumers. Partnering with local financial institutions like NLB Bank AD Skopje is essential for the success of initiatives like this, as it strengthens local financial ecosystems and ensures that funding reaches communities more effectively. This project not only contributes to a greener and more sustainable future for North Macedonia, but also brings direct benefits to its citizens by reducing energy bills and improving the quality of the housing stock”, said Matteo Colangeli.
This loan to NLB Bank AD Skopje under the WBGEFF III programme will support high‑performing green technologies, materials, and solutions for privately owned residential dwellings and buildings. Investment in energy-saving equipment such as insulation, windows, heat pumps and solar panels will reduce greenhouse gas emissions, cut energy costs, and improve residents’ quality of life. It will also help to address the high energy and carbon intensity of North Macedonia’s residential and public sectors.
“We are happy to continue our cooperation with the European Bank for Reconstruction and Development and to promote green lending in partnership, enabling households to have easier access to affordable funds for financing projects that contribute to energy efficiency and environmental protection, which in turn are significant a pillar of our responsible lending policy. This cooperation underlines our common vision for a sustainable future and encouraging the green transition in the financial sector,” said Toni Stojanovski.
The loan will facilitate the Bank’s Green Economy Transition approach and will be supported by the Japan-EBRD Cooperation Fund and the EU through the Western Balkans Investment Framework (WBIF).
In less than seven years, more than 18,000 households in the Western Balkans have invested over €100 million in energy-saving measures such as insulation, heat pumps, new windows, and solar panels, thanks to the GEFF, which was launched in 2017.
The programme is supported by the EU through the European Western Balkans Joint Fund (EWBJF), via the Western Balkans Investment Framework (WBIF), as part of the Regional Energy Efficiency Programme, as well as being supported by bilateral donors.
NLB Bank AD Skopje is a universal commercial bank and the 3rd largest bank on the market in the country.
The EBRD is a major institutional investor in North Macedonia. To date, it has invested €2.9 billion in 196 projects across the country.
