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    EBRD mulls lending 2 mln euro to N. Macedonia's Sparkasse Bank

    Author Mario Tanev
    EBRD mulls lending 2 mln euro to N. Macedonia's Sparkasse Bank Photo: EBRD

    SKOPJE (North Macedonia), February 6 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it is considering lending 2 million euro ($2.2 million) to North Macedonia-based Sparkasse Bank Makedonija under its Green Energy Financing Facility for the Western Balkans.

    The project will contribute towards building a green economy by facilitating the expansion of residential energy efficiency lending in the country, the EBRD said in a statement.

    Sparkasse Bank Makedonija is a unit of Austria's Steiermarkische Bank und Sparkassen, which last year acquired a majority stake in another North Macedonia-based lender - Ohridska Banka. Sparkasse Bank and Ohridska Banka are expected to merge in 2021, creating the country's fourth largest bank with a market share of 12-13%, the EBRD said.

    The EBRD Green Energy Financing Facility for the Western Balkans, launched in 2017, is designed to help households, housing associations and service providers invest in energy efficiency measures and renewable energy projects.

    ($ = 0.9089 euro)

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