EBRD lending EUR 3.5 mln to N. Macedonia's Procredit Bank for SMEs

Banking

The European Bank for Reconstruction and Development said on Monday that it is extending two loans worth a total of EUR 3.5 million to North Macedonia's Procredit Bank in support of small and medium-sized enterprises (SMEs) and energy efficiency improvements of residential buildings.

Under the first package of EUR 2.5 million, Procredit Bank will lend funds to local SMEs to upgrade their production processes and equipment to EU standards, in particular concerning product quality and safety, health and safety measures and environmental preservation, the EBRD said in a statement.

The loan is extended within the Western Balkans SME Competitiveness Support Programme with the support by the EU, which is providing incentive payments and technical assistance. The second loan, which amounts to EUR 1 million, is provided to support investments in green materials, equipment and technologies for privately-owned residential buildings.

This loan is extended under the Green Economy Financing Facility (GEFF), which is supported by the EU, the Western Balkans Investment Framework and Austria's Finance Ministry.

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