Skopje, 5 February 2025 (MIA) - In 2024, the European Bank for Reconstruction and Development (“EBRD”) invested €151 million across 13 impactful projects in North Macedonia that are helping shape the country’s economic and sustainable growth, said the EBRD in a press release Wednesday.

A total of €70 million was dedicated to green projects, supporting energy efficiency, renewable energy, and decarbonization efforts.

"These investments reflect the Bank`s commitment to empowering the country`s transition to a greener and more resilient and inclusive economy," the Bank said.

Fatih Turkmenoglu, EBRD Country Head for North Macedonia, said: “It’s inspiring to see how far we’ve come in driving the country’s green transition, enhancing infrastructure, and broadening financial opportunities for both businesses and individuals. These milestones reflect the successful collaborations we’ve built with local partners, donors, and the private sector, all aimed at promoting sustainable economic growth. I would also like to highlight that the investments in local businesses are not just about economic development—they are about creating opportunities that encourage people to build their futures at home. These investments have the potential to slow down, or even stop, the outflow of people seeking opportunities elsewhere. As we start in 2025, I’m optimistic about maintaining this momentum, achieving, and delivering even more impactful results, and supporting the country in unlocking its full potential.”

According to the Bank, in 2024, the European Bank for Reconstruction and Development (EBRD) supported the country`s economic and sustainable development through several impactful deals.

"Highlights include providing a €98.6 million loan to NOMAGAS, for the construction of a gas interconnection pipeline with Greece, and two regional gas transmission pipelines, allowing to diversify sources of natural gas and aiming to ensure security of supply, reducing air pollution and GHG emissions by enabling the switch to cleaner fuels and accelerating the decommissioning of coal assets. Additionally, a €24.6 million loan was provided to MEPSO, to strengthen the country`s transmission network in the southeast region of the country and enable the connection for up to 1,170 MW new renewable energy sources. Support was provided via direct financing to a leading local retailer KAM with the Bank financing up to €6 million for investment in network expansion and upgrade of warehouse/logistic centre making them more energy efficient alongside other operational improvements. The Bank`s long-lasting client Makprogres was funded via Risk Sharing Facility (RSF) through Sparkasse Bank in the amount of €2 to support the growth of the company and to continue the support of the multidisciplinary educational centre, which is providing labour market recognised certification and accredited training opportunities in an under-served region," the EBRD said.

The Bank said it has supported over 1,000 entrepreneurs through various outreach initiatives, including visibility events, conferences, and digital activities, while also providing training to SMEs on supply chain management and artificial intelligence.

During 2024, the Bank engaged in implementation of the EU funded activity - Structural Reform Facility - Competitiveness Policy Priorities for Western Balkans, aiming to develop and implement a comprehensive programme to enhance the competitiveness of the private sector in Western Balkans, and thus support the implementation of the European Union’s Economic and Investment Plan for the Western Balkans (EIP).

The EBRD invested €1.6 billion in the Western Balkans, plus a record half billion euros additionally mobilised from other investors, in 116 projects. A record 62% share of the total investments, was dedicated to green projects, supporting energy efficiency, renewable energy, and decarbonization efforts and 50% of the total projects were gender inclusive.

The EBRD delivered a record €16.6 billion in investments across its economies in 2024, a 26 per cent increase over the previous year. Over the course of 2024, the EBRD gained its first two shareholders from sub-Saharan Africa, Benin and Côte d’Ivoire, bringing its total number of members to 76. The Bank plans to launch operations in the region later this year. The year also featured a presidential election, with the Board of Governors re-electing Odile Renaud-Basso to a second term as President at its Annual Meeting and Business Forum in Yerevan, Armenia.

The EBRD has invested more than €2,9 billion in 197 projects in North Macedonia since it began operating in the country.

Photo: EBRD