EBRD supports businesses in North Macedonia

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Photo by ColorMaker / Shutterstock.com

The European Bank for Reconstruction and Development (EBRD) is providing a EUR 20 million loan to Sparkasse Bank Makedonija for on-lending to local private businesses and corporates affected by the economic impact of the coronavirus pandemic, the EBRD said in a statement. 

Sparkasse Bank Makedonija branch in the central district of Skopje, the capital of North Macedonia. Photo by ColorMaker / Shutterstock.com

Less dependent on tourism than other countries in the Western Balkans, North Macedonia’s economy is strongly influenced by manufacturing and trade.

New financing is vital to mitigate the current crisis and through Sparkasse Bank Makedonija the EBRD will be able to assist viable companies in need of support, the European Bank for Reconstruction and Development said in the statement. 

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