EBRD lending 1 mln euro to N. Macedonia's Komercijalna Banka to back green investment

Photo: EBRD

SKOPJE (North Macedonia), December 31 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is extending a 1 million euro ($1.2 million) loan to Komercijalna Banka Skopje [MSE:KMB], to support green investments in North Macedonia's residential sector.

The loan, provided to the largest bank in North Macedonia under the EBRD’s Green Economy Financing Facility (GEFF), will be used to finance investments in high-performance green technologies, materials and solutions in privately-owned houses or residential buildings, the EBRD said in a statement on Wednesday.

GEFF is implemented under the umbrella of the Regional Energy Efficiency Programme for the Western Balkans (REEP Plus), funded by the EU and implemented in partnership with the Energy Community Secretariat. Komercijalna Banka Skopje is the fifth bank in the country to join GEFF. 

As of the end of November, GEFF has provided loans of more than 11 million euro for almost 1,600 individual projects in North Macedonia that contributed to savings of over 7 million kWh of energy and a reduction of over 3,000 tons of CO2 emissions per year, the EBRD said.

($ = 0.8135 euro)

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