EIB Global to help N. Macedonia c-bank enhance climate risk oversight

The cooperation agreement, signed under the Greening Financial Systems (GFS) programme, is expected to help local banks understand the climate risk exposure of companies in North Macedonia and support their sustainability practices, EIB Global said in a press release.

The GFS programme, funded by the German government through the EIB’s International Climate Initiative Fund and implemented with the NDC Partnership, seeks to facilitate the transition to net zero and climate-resilient financial systems, encouraging climate action and green investments, especially among small businesses.

The GFS programme will be complementary to the technical assistance the EIB is providing to North Macedonia's Development Bank and commercial banks to support the implementation of the 100 million euro ($108 million) EIB green credit line for Macedonian companies, EIB Global added.

($ = 0.926 euro)