January 28 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday that it is providing a 1 million euro ($1.1 million) loan to North Macedonia-based Sparkasse Leasing under its competitiveness support programme.
As Sparkasse Leasing deals mostly with transport vehicles, the funds will be used for EURO 6 trucks and buses, construction machines, and electric/hybrid vehicles, which is in line with the objectives of the programme, the EBRD said in a statement.
The loan, which is due to be signed, will have a five year tenor and a grace period of two years.
Sparkasse Leasing provides finance and operating leases for passenger cars, commercial vehicles, industrial machinery and equipment. The company is fully owned by Austria's Steiermarkische Bank und Sparkassen, which holds 49% directly, and 51% through its North Macedonia-based unit Sparkasse Bank Macedonia.
($ = 0.9078 euro)