July 12 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it considers providing a senior unsecured loan of up to 1 million euro ($1.1 million) to North Macedonia’s Procredit Bank, to be used to finance private energy efficiency investments.
The funding would be used for on-lending to participants in the residential sector for investments supporting green economy transition, the EBRD said in a project summary document last week.
The loan would be provided under the Western Balkans GEFF II Programme.
Procredit Bank is the sixth largest bank in North Macedonia with assets of 685 million euro and a market share of 6.2% by total assets, 7.1% by net loans and 6.0% by customer deposits as at the end of 2022.
($ = 0.907029 euro)