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Tuesday, February 20, 2018, 

Under EBRD €2 million-loan Ohridska Banka joins Macedonian green efforts

Under EBRD €2 million-loan Ohridska Banka joins Macedonian green efforts

Skopje, 28 December 2017 (MIA) - Ohridska Banka AD Skopje is joining the efforts of the European Bank for Reconstruction and Development and the Macedonian banking sector to make the country's economy greener, EBRD said is a press release on Thursday.

Joining the EBRD Western Balkans Green Economy Financing Facility (GEFF) today, Ohridska Banka will receive a €2 million loan for on-lending to support investments in green technologies, materials and solutions by private home owners. The building stock in Macedonia is in urgent need of refurbishment and the introduction of new technologies such as  insulation is expected to lower costs and improve comfort, the press release reads.

Ohridska Banka is a fully-owned subsidiary of the French banking group Société Générale and a long-standing partner of the EBRD in the Macedonian economy.

'We are very pleased to sign this loan agreement today. It will deepen our impact on the establishment of a green economy in FYR Macedonia and will also intensify the relationship with our long-standing partner Ohridska Banka. We are convinced that this will create mutually beneficial and successful cooperation in a new area,' Anca Ioana Ionescu, Head of the EBRD's office in Skopje, said.

Branka Pavlovic, President of the Management Board of Ohridska Banka said: 'Ohridska Banka has confirmed its social responsibility with many projects up till now. With this new project we will further support “green financing; this time in the sector of private home owners. At the same time, we are convinced that  the new loan will provide good support for our new product, in terms of a favourable price and grant component for the first time in the household sector. We believe this is another success story with the EBRD'.

The EBRD Green Energy Financing Facility (GEFF) for the Western Balkans (launched in 2017, €85 million) is designed to help local households, housing associations and service providers invest in energy efficiency measures and renewable energy projects. Loans are provided via local financial institutions and are backed by incentives from the European Union to beneficiaries upon successful completion of renovation projects.

The EBRD is a major institutional investor in Macedonia. To date, it has invested €1.6 billion in more than 100 projects in the country. lk/16:40

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