April 26 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday it has approved a long-term senior unsecured loan of up to 2 million euro ($2.1 million) to North Macedonia's Komercijalna Banka Skopje [MSE:KMB] to back local small and medium-sized enterprises (SMEs).
Komercijalna Banka will on-lend the financing to SMEs for investments in high performance technologies and services in order to introduce and implement EU and international quality standards, the EBRD said in a project summary document.
At least 70% of the use of the proceeds is expected to be related to green economy transition investments.
The loan will be provided under the EBRD's Sustainable Reboot SME Programme.
($ = 0.9368 euro)
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