Skopje, 3 October 2023 (MIA) – Tuesday’s auction of the first issue of green bonds saw a total demand of Mden 1.635 billion, three times the projected demand. Green bonds worth EUR 10 million were issued at the auction, said the Ministry of Finance in a press release Tuesday.

“The interest in this new financial instrument that we’ve introduced was really great. Mden 1.635 billion were offered at the auction, but, as we announced, the Ministry of Finance, issued green bonds worth Mden 600 million. Interest was shown by banks, financial institutions, but also by natural persons. This demonstrates that the market of capital requires new, creative and innovative instruments that will enrich the offer and enable investors to broaden their financial portfolio,” said Finance Minister Fatmir Besimi.

The funds received from the first issue of the green bond, said the Minister, will be directed to the Energy Efficiency Fund within the Development Bank of North Macedonia, where businesses will be able to receive favorable funds for their green investments.

The issued green bonds have a maturity rate of 2 years and an annual interest rate of 4.75 percent.

According to the Finance Ministry, the green bonds are securities to be used for investment projects for green development. They aim to encourage and support projects for the promotion and protection of the environment, and finance environmental projects. 

Photo: MIA Archive