In a significant move to bolster green finance and energy efficiency, the European Bank for Reconstruction and Development (EBRD) has announced a loan of up to €3.5 million to Komercijalna Banka AD Skopje in North Macedonia. This initiative, part of the Green Economy Financing Facility (GEFF), aims to promote energy-efficiency investments among homeowners, housing collectives, producers, and service providers in the country. The project is co-financed by the European Union (EU) and Japan.
The loan agreement was officially signed by Odile Renaud-Basso, President of the EBRD, and Maja Stevkova Sterieva, Chief Financial Officer of Komercijalna Banka AD Skopje and a board member.
President Renaud-Basso expressed pride in the continued support for North Macedonia’s green energy transition, particularly in the residential sector, which she noted as the country’s largest energy consumer. She emphasized that the project not only contributes to a sustainable future for North Macedonia but also offers direct benefits to its citizens by reducing energy bills and improving the comfort of homes.
Ms. Stevkova Sterieva highlighted the importance of the GEFF programme in making households more energy-efficient, facilitating energy savings, and improving the overall quality of life. She stated that Komercijalna Banka is proud to help reduce the financial burden on families, contribute to combating climate change, and create a healthier environment through this initiative.
The loan will support investments in high-performing green technologies, materials, and solutions for privately owned residential dwellings and buildings. Key areas of focus include insulation, windows, heat pumps, and solar panels, all aimed at reducing greenhouse gas emissions, cutting energy costs, and enhancing residents’ quality of life. This initiative also seeks to address the high energy and carbon intensity of North Macedonia’s residential and public sectors.
Komercijalna Banka AD Skopje will also receive technical assistance to establish a new financing model tailored to green lending in the residential sector. This assistance will extend to construction companies and vendors/producers of green technologies, fostering a broader green transition across the residential sector.
The loan supports the EBRD’s Green Economy Transition approach and is backed by the Japan-EBRD Cooperation Fund and the EU through the Western Balkans Investment Framework (WBIF). The EBRD’s GEFF programme has already improved the energy efficiency of more than 18,000 homeowners across the Western Balkans.
As the largest commercial bank in North Macedonia, Komercijalna Banka AD Skopje plays a crucial role in this initiative. With a market share of 22.2 percent in terms of total assets and the largest branch network in the country, the bank offers a full range of commercial banking services to individuals and companies nationwide.
The EBRD remains a major institutional investor in North Macedonia, with investments totaling €2.9 billion across 190 projects to date. This latest initiative underscores its ongoing commitment to promoting sustainability and economic growth in the region.
