North Macedonian SMEs will benefit from 4 million euros in green loans
Stopanska Banka Chairman Diomidis Nikoletopoulos and EBRD President Odile Renaud-Basso sign a €4 million loan to help SMEs in North Macedonia (Photo: EBRD)
NORTH MACEDONIA. The European Bank for Reconstruction and Development (EBRD) granted Tuesday, May 31, 2022 a credit line of 4 million euros to Stopanska Banka. The bank will redistribute this envelope in the form of loans to SMEs in North Macedonia.
The funding will be used tostimulate SME investment in high-performance standards, technologies and services, enabling them to become more competitive“, says an EBRD statement. They will also benefit small businesses to help them restart their activities after the Covid-19 pandemic.”Recovery from the pandemic is slow and difficult, but it provides an opportunity to rethink and restructure the business, making it more sustainable for the future, which is exactly what this program aims to do,“says Diomidis Nikoletopoulos.
The Stopanska Banka will therefore give priority to loans aimed at improving energy efficiency. About 70% of program funds will be allocated to investments in energy savings and green technologies, while the rest will support investments in automation, increased productivity, product quality and safety.