Energy Efficiency

Sparkasse Bank Makedonija secures EUR 2 million under GEFF for green buildings


Photo: Signing ceremony (Sparkasse Bank Makedonija)


February 25, 2020






February 25, 2020





Sparkasse Bank Makedonija has secured a EUR 2 million loan from the European Bank for Reconstruction and Development (EBRD) under the Green Economy Financing Facility (GEFF) program to support investments in high-performance green technologies in privately owned buildings in North Macedonia.

The agreement on loan was signed by Gligor Bišev, Chairman of the Management Board of Sparkasse Bank Makedonija, and Henry Russell, director at EBRD.

Sparkasse Bank Makedonija will on-lend funds to private borrowers

North Macedonia’s bank will on-lend funds to private borrowers who plan to invest in technologies, materials, and solutions to improve energy efficiency, according to the statement on GEFF’s website.

The building stock in North Macedonia is in urgent need of refurbishment and the introduction of insulation, for example, is expected to lower costs and improve comfort, it adds.

This is the third GEFF line granted to this bank in North Macedonia

This is the third line granted to the Sparkasse Bank Makedonija to satisfy the growing demand for the product, GEFF said.

EBRD is extending a EUR 3 million mortgage loan to North Macedonia’s bank for on-lending to private borrowers for housing purposes

In addition, the EBRD is extending a EUR 3 million mortgage loan to the bank for on-lending to private borrowers for housing purposes. It is the second package. The first, signed in 2017, was fully on-lent in North Macedonia, the press release reveals.

Combined with the loan for energy-saving improvements in people’s homes, mortgage financing will help to expand lending to the residential sector, GEFF said.

In October 2019 Procredit Bank Macedonia received a EUR 1 million loan from the EBRD for financing energy efficiency improvements of residential buildings.

GEFF in North Macedonia is part of the EBRD’s EUR 85 million Western Balkans Green Economy Financing Facility, launched in 2017.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Turkey one third world geothermal greenhouses

Turkey accounts for one third of world’s geothermal greenhouses

05 August 2022 - The surface of greenhouses heated with geothermal energy in Turkey grew 400% since 2002, says Mücahit Kıvrak from the Balıkesir University

Serbia target emissions cut 40 3 by 2030 upcoming NECP

Serbia to target emissions cut of 40.3% by 2030 in upcoming NECP

27 July 2022 - Serbia presented the preliminary goals for its integrated national energy and climate plan as it is about to start a public debate

GGF takes green finance graduates on study tour in Berlin

14 July 2022 - GGF's Technical Assistance Facility and the Renewables Academy (RENAC) hosted a study tour in Berlin for the graduates of the Green Finance Expert Course

Green for Growth Fund record expansion 2021

Green for Growth Fund achieves record expansion in 2021

12 July 2022 - GGF recorded its strongest ever net growth in its outstanding portfolio, with EUR 1.3 billion in green loans to over 42,000 end borrowers