Skopje, 27 February 2024 (MIA) — To support the KAM grocery chain's expansion with greener stores and improvements in energy efficiency, the European Bank for Reconstruction and Development has signed a 6-million-euro loan with the food retailer, a press release from the EBRD said.

"The loan will finance the company’s ambitions to expand its modern grocery chain accross the country and to renovate its existing stores and logistical facilities, making them more energy efficent alongside other improvements," the release said.

The EBRD will be supporting the company in its further development through EU-funded advisory programs, including on strategic management and corporate governance improvements.

KAM is a leading grocery retailer in North Macedonia and the first hard discount retail chain across the Western Balkans. The company operates 80 stores across 20 cities and has recently expanded its business to Bulgaria and Kosovo.

Since North Macedonia joined the EBRD in 1993, the bank has invested more than 2.7 billion euros in 186 projects in the country, nearly half of which have been in the private sector.

According to the release, the bank’s priority for the country is to support competitiveness, the green transition and further integration into regional and global markets. mr/