April 6 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday it has approved a 2.5 million euro ($2.69 million) financing under the Green Economy Financing Facility (GEFF) Western Balkans programme to support green economy projects in North Macedonia.
For the purpose, the EBRD is providing a senior unsecured loan to North Macedonia-based lender Ohridska Banka in one tranche, the EBRD said in a statement.
"The project will contribute towards building a green economy by facilitating the expansion of residential energy efficiency lending in North Macedonia and positive demonstration effects of green economy projects," the bank said.
The GEFF programme supports businesses and homeowners wishing to invest in green technologies. The programme operates through a network of more than 140 local financial institutions across 26 countries supported by more than 4 billion euro of EBRD finance.
($ = 0.9273 euro)