Skopje, 22 October 2025 (MIA) - Women in North Macedonia hold accounts and credit cards at the same rate as men, but receive only 28 per cent of the total borrowed amount under the Green Economy Financing Facility (GEFF), compared to 72 per cent accessed by men. This translates to nearly €10 million less in green loan disbursements for women, shows a survey conducted by the European Bank for Reconstruction and Development (EBRD).

According to the survey, women show greater climate concern and invest more, yet have less access to green loans. The findings also show that young women face additional barriers to loan access, often due to temporary employment contracts, maternity leave, or unpaid care responsibilities that limit their participation in the formal labour market. These structural challenges contribute to women’s lower financial inclusion and reduced access to green investment opportunities. 

Based on the data, when women do secure loans, they tend to borrow larger amounts than average GEFF loan size. The average loan size for women stands at €8,529, significantly above the programme average of €5,605. This suggests that women are making substantial investments when given the opportunity.

Moreover, the study underscores a strong business case for expanding green finance to women. Women demonstrate higher climate awareness, with 74 per cent expressing concern about climate-related risks, compared to 61 per cent of men. Despite this, women remain underrepresented in green finance uptake compared to men. These findings point to a significant opportunity for financial institutions to expand their market by addressing gender-specific barriers and tailoring products to meet women’s needs.  

"This survey is important because improving data collection and highlighting gender disparities can help further raise awareness of this issue and improve women’s participation in the green economy," EBRD Head of North Macedonia Fatih Turkmenoglu said presenting the findings.

He added that the GEFF programme, supported by the EBRD and its donors, continues to work with local banks to promote inclusive green finance and ensure that women are not left behind in the green transition. 

EU Delegation representative Marie-Madeleine Kanellopoulou underlined that gender equality is a fundamental component of all EU policies implemented in North Macedonia, allowing alignment of the climate neutrality goals with gender equality, and promoting sustainable development.

"Having such disaggregated gender data allows us to know what are the market needs, what are the barriers for female entrepreneurs and how can we jointly build capacity for further supporting gender responsive climate actions," she added. 

The GEFF programme, which has been running in North Macedonia since 2017, provides financing to homeowners for investments in energy-saving technologies, in cooperation with local partner banks. The survey examines the results and lending patterns of the programme which has so far supported close to 5000 homeowners to invest in energy upgrades of their home.

The Gender Baseline Assessment offers recommendations to financial institutions for overcoming barriers to women’s access to climate finance, including the use of gender-responsive marketing and informal channels, as well as awareness-raising on funding opportunities tailored to women. Efforts should also focus on addressing gender biases in financial processes, providing subsidies for green investments, and strengthening cooperation with local governments to support women’s access to finance.

The EBRD GEFF in the Western Balkans is co-funded by the European Union through the Western Balkans Investment Framework, the governments of Austria, Denmark and Japan, and Austria and Switzerland through the High-Impact Partnership on Climate Action (HIPCA). The HIPCA is supported by Austria, Canada, Finland, Germany, the Netherlands, South Korea, Spain, Switzerland, the TaiwanICDF, the United Kingdom and the United States of America. 

Photo: EBRD