EIB Global and Sparkasse Bank team up to boost green investments in North Macedonia

The European Investment Bank (EIB) – via EIB Global – and Sparkasse Bank AD Skopje have held a workshop in Skopje to launch their partnership under the Greening Financial Systems (GFS) technical assistance programme. This initiative is part of the EIB’s wider efforts to support the resilience of financial institutions, which play a crucial role in driving green transformation and stepping up financing for climate and sustainability projects.

“The GFS programme aims to support the transition to net-zero financial systems, which is an important step for climate action and promoting green investments among small businesses. Working with Sparkasse Bank, as well as with the National Bank of North Macedonia and other financial institutions in the country, is a significant step towards addressing climate challenges in North Macedonia and creating a resilient financial system. Along with this technical support and other initiatives we are supporting in the country, as the EU climate bank, we aim to promote green investments, help the local economy address climate risks and increase its competitiveness both regionally and globally,” said EIB representative to North Macedonia Björn Gabriel.

The programme is financed by the German government through the EIB’s International Climate Initiative Fund and is run in collaboration with the NDC Partnership, a global coalition of countries and institutions that work together to drive climate action.

“For Sparkasse Bank, working with the EIB is particularly significant given our leadership position, with more than 40% market share in financing green projects in North Macedonia and over €115 million in financial support provided for more than 140 green projects. This is a pivotal moment for us and the financial sector in North Macedonia. With this support, we will enhance our existing practices with regards to green lending, an area in which we have been active for over 14 years. Our goal is to promote the transformation towards an environmentally sustainable economy, and we strongly believe that working with the EIB will yield positive results, not only for our clients, but also for society as a whole, helping to mitigate climate change and creating a better future for all,” said Deputy President of the Management board of Sparkasse Bank Nina Nedanoska.

In the last two years, the EIB and Sparkasse Bank allocated €46 million to companies in North Macedonia, with €19 million disbursed so far under the EIB green credit line helping to decarbonise the local economy. In addition to Sparkasse Bank, the banks benefiting from the GFS programme in North Macedonia are NLB Bank Skopje, ProCredit Bank and Komercijalna banka.