Skopje, 23 April 2024 (MIA) - The National Bank of North Macedonia recognizes the long-term risk of climate change and has taken a proactive position by setting increased awareness and the contribution towards a green sustainable economy as one of its strategic goals, National Bank Vice-Governor Ana Mitreska told Bloomberg Adria in an interview, according to a press release Tuesday by the National Bank.

Mitreska said the “green agenda” is embedded in the National Bank’s Strategic Plan. In a period of four years, the level of “green loans” has grown by around 2.5 times, she said.

The Vice-Governor noted that in order to support green financing and the efforts to tackle climate risks, the National Bank has adopted a midterm plan that outlines concrete action plans or activities in several fields of its work.

“We’ve recently also adopted concrete guidelines for the banks that should represent a kind of map for the way they should behave in terms of measuring, assessing and managing climate risks. A few years ago, we changed the concept of the reserve requirement instrument in order to encourage green loans. Within the institutions, we are also working on the Bank’s sustainability policy, which means improving our corporate profile in terms of sustainability as a concept,” Mitreska said.

Mitreska clarified that green loans are loans aimed at increasing energy efficiency of both the corporate sector and the population, as well as investments aimed at environmental protection and mitigation of the effects of climate change. 

Photo: National Bank