The European Investment Bank (EIB), through its EIB Global division, has partnered with Sparkasse Bank AD Skopje to support North Macedonia’s transition to a greener financial system, Azernews reports.

The collaboration, launched at a workshop in Skopje, is part of the Greening Financial Systems (GFS) technical assistance program, designed to strengthen financial institutions’ ability to finance climate and sustainability projects. The program is funded by the German government through the EIB’s International Climate Initiative Fund and operates in collaboration with the NDC Partnership.

EIB representative to North Macedonia, Björn Gabriel, underscored the significance of the initiative in addressing climate challenges and promoting green investments among small businesses. Sparkasse Bank, which has invested over 115 million euros in more than 140 green projects, views the initiative as a key step in advancing sustainable lending. Deputy President of the Management Board, Nina Nedanoska, noted that the partnership will enhance the bank’s green finance efforts, benefiting both clients and society.

In the past two years, the EIB and Sparkasse Bank have allocated 46 million euros to companies in North Macedonia, including 19 million euros under the EIB green credit line. Other banks involved in the GFS program include NLB Bank Skopje, ProCredit Bank, and Komercijalna Banka.