The European Bank for Reconstruction and Development (EBRD), in collaboration with the European Union (EU) and Japan, is bolstering energy-saving efforts in North Macedonia. Through a new partnership with NLB Bank AD Skopje, the initiative aims to promote green finance and drive sustainable development in the region.
New Funding for Energy-Efficiency Projects
Under the agreement, the EBRD has provided a loan of up to €4 million to NLB Bank AD Skopje. This funding supports energy-efficient upgrades for homeowners, housing collectives, producers, and service providers. To incentivize these investments, borrowers will receive cashback grants of up to 20% of the total project cost, funded by the EU and Japan.
A Commitment to Green Energy Transition
The loan agreement was signed by Matteo Colangeli, EBRD Regional Director for the Western Balkans, and Toni Stojanovski, CEO and President of the Management Board of NLB Bank AD Skopje.
Matteo Colangeli emphasized the significance of the initiative:
“This funding will accelerate North Macedonia’s transition to green energy by upgrading residential buildings, which are among the country’s largest energy consumers. Partnering with local financial institutions ensures these funds reach communities effectively, directly benefiting citizens by reducing energy bills and enhancing housing quality.”
Toni Stojanovski highlighted the bank’s dedication:
“We are proud to partner with the EBRD to promote green lending. This collaboration simplifies access to affordable financing for energy-efficient projects, aligning with our commitment to responsible lending and sustainability. Together, we’re building a greener future.”
Promoting Green Technologies
The funding, part of the WBGEFF III programme, will enable investments in advanced energy-saving technologies and solutions for residential properties. Projects may include insulation, high-performance windows, heat pumps, and solar panels. These upgrades aim to lower greenhouse gas emissions, reduce energy costs, and improve residents’ quality of life.
A Proven Track Record of Impact
Since its launch in 2017, the GEFF (Green Economy Financing Facility) programme has facilitated over €100 million in energy-efficient upgrades across 18,000 households in the Western Balkans. By promoting renewable energy and energy-saving measures, the programme addresses the high energy consumption and carbon footprint of the region's residential sector.
Support from Global Partners
This initiative aligns with the EBRD’s Green Economy Transition approach and receives financial backing from the Japan-EBRD Cooperation Fund and the EU through the Western Balkans Investment Framework (WBIF). These partnerships underline a shared commitment to enhancing energy efficiency and sustainability in North Macedonia.
NLB Bank AD Skopje: A Key Partner
As the third-largest commercial bank in North Macedonia, NLB Bank AD Skopje plays a pivotal role in facilitating energy-efficient lending and promoting green financial solutions. Its collaboration with the EBRD underscores the bank's commitment to fostering sustainable development.
EBRD’s Broader Impact in North Macedonia
The EBRD has been a leading institutional investor in North Macedonia, investing €2.9 billion across 196 projects to date. This latest initiative reflects the EBRD’s dedication to advancing energy efficiency, reducing carbon emissions, and improving living standards in the country.
With this partnership, North Macedonia takes another step toward a sustainable and energy-efficient future, setting a benchmark for green investment in the Western Balkans.
