The European Bank for Reconstruction and Development (EBRD) said on May 6 it approved a loan of up to €3mn to Sparkasse Bank Makedonija to support investments in green technologies.
The loan will be provided under the Western Balkans Green Economy Financing Facility II (WB GEFF II). The loan was approved on May 4.
“The loan will support investments in high-performance green technologies, materials and solutions undertaken in privately owned residential dwellings or buildings,” the EBRD said in a statement.
The project will contribute towards building a green economy by facilitating the expansion of lending for investments into high performance residential green economy technologies.
Sparkasse Bank Makedonija is the seventh largest bank in the country, with a 4% market share in terms of total assets. It is fully-owned by Austria’s Steiermarkische Bank und Sparkassen, which recently acquired North Macedonia's Ohridska Banka from the French group Societe Generale.
Sparkasse Bank Makedonija and Ohridska Banka will merge in July 2021, after which the new bank will be the fourth largest in the local market with a 12% market share.
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