The European Bank for Reconstruction and Development (EBRD) has granted a €4 million loan to the Macedonian Bank, NLB Tutunska Banka, based on a market study that identified the potential for energy efficiency improvements in Macedonia.
10 May 2011: The European Bank for Reconstruction and Development (EBRD) has granted a €4 million loan to the Macedonian Bank, NLB Tutunska Banka, in support of investments in energy efficiency in Western Balkans. The loan will be used for on-lending to the private sector for investments in industrial energy efficiency, energy efficiency in commercial buildings and small renewable energy production.
The loan, provided under the Western Balkans Sustainable Energy Credit Line Facility (WeBSECLF), is the result of a market study that identified the potential for energy efficiency improvements in Macedonia. The EBRD loan will be supported by grant funding from the European Commission that will help with the preparation and implementation of projects.
Since the beginning of its operations in the Former Yugoslav Republic of Macedonia, the EBRD has committed over €510 million in over 40 projects in key sectors of country’s economy, mobilising addition investment worth more than €620 million. [EBRD Press Release]