The European Bank for Reconstruction and Development (EBRD) invested €151 million across 13 projects in North Macedonia in 2024, reinforcing its commitment to economic development and sustainability.
Of the total investment, €70 million was allocated to green initiatives, supporting energy efficiency, renewable energy, and decarbonization efforts, the bank said in a statement.
“It’s inspiring to see how far we’ve come in driving the country’s green transition, enhancing infrastructure, and broadening financial opportunities,” said Fatih Turkmenoglu, EBRD Country Head for North Macedonia. “These investments not only foster economic growth but also create opportunities for people to build their futures at home, potentially curbing emigration.”
Major Investments in Energy and Infrastructure
Key projects in 2024 included a €98.6 million loan to NOMAGAS for the construction of a gas interconnection pipeline with Greece and two regional transmission pipelines. The initiative aims to diversify energy sources, enhance supply security, and reduce emissions by facilitating a shift from coal to cleaner fuels.
Additionally, a €24.6 million loan to power transmission operator MEPSO will strengthen the national grid and support the integration of up to 1,170 MW of new renewable energy capacity.
The EBRD also financed private sector growth, including a €6 million investment in leading local retailer KAM for network expansion and logistics improvements. A €2 million risk-sharing facility, channeled through Sparkasse Bank, supported Makprogres in expanding operations and funding a vocational training center in an underserved region.
Supporting SMEs and Regional Development
Beyond direct investments, the EBRD engaged over 1,000 entrepreneurs through training, conferences, and digital outreach. It also implemented an EU-funded competitiveness program to strengthen private sector development in the Western Balkans.
In 2024, the EBRD invested €1.6 billion across the Western Balkans, plus an additional €500 million from co-investors, with 62% dedicated to green projects. Half of the total projects included gender-inclusive initiatives.
The bank’s global investments reached a record €16.6 billion in 2024, a 26% increase from the previous year. It also welcomed its first sub-Saharan African shareholders, Benin and Côte d’Ivoire, expanding its membership to 76.
Since beginning operations in North Macedonia, the EBRD has invested more than €2.9 billion in 197 projects.
