February 24 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday that it is providing two loans totalling 5 million euro ($5.4 million) to North Macedonia-based Sparkasse Bank Makedonija to support investments in housing and green buildings.
A 2 million loan will back investments in high-performance green technologies in privately owned buildings, while a 3 million euro mortgage loan will be used for on-lending to private borrowers for housing purposes, the EBRD said in a statement.
This is the second mortgage loan that the EBRD is extending to Sparkasse Bank, after the first one, signed in 2017, was fully on-lent on.
The EBRD is financing the 2 million euro loan under its Green Economy Financing Facility (GEFF) programme.
GEFF in North Macedonia is part of the EBRD’s 85 million euro Western Balkans Green Economy Financing Facility, launched in 2017. The programme is a joint initiative by the European Union, the Austrian Federal Ministry of Finance and beneficiary countries cooperating under the Western Balkans Investment Framework (WBIF).
To date, the EBRD has invested over 2 billion euro in 129 project in North Macedonia.
($ = 0.9243 euro)
Sparkasse Banka Makedonija AD (former Investbanka) is among the biggest banks in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here