BAKU, Azerbaijan, February 28. The European Investment Bank (EIB), through its EIB Global division, has partnered with Sparkasse Bank AD Skopje to support the transition to a greener financial system in North Macedonia, Trend reports.
The collaboration, launched at a workshop in Skopje, is part of the Greening Financial Systems (GFS) technical assistance program, aimed at strengthening financial institutions’ capacity to finance climate and sustainability projects.
EIB representative to North Macedonia Björn Gabriel highlighted the importance of the initiative, stating that it will help address climate challenges and promote green investments among small businesses. The program is funded by the German government through the EIB’s International Climate Initiative Fund and operates in collaboration with the NDC Partnership.
Sparkasse Bank, a leader in green financing in North Macedonia with over 115 million euros invested in more than 140 projects, sees the initiative as a crucial step in advancing sustainable lending. Deputy President of the Management Board Nina Nedanoska emphasized that the partnership will enhance the bank’s green finance efforts, benefiting both clients and society.
Over the past two years, the EIB and Sparkasse Bank have allocated 46 million euros to companies in North Macedonia, including 19 million euros under the EIB green credit line. Other banks participating in the GFS program in the country include NLB Bank Skopje, ProCredit Bank, and Komercijalna Banka.