The European Bank for Reconstruction and Development (EBRD) said on May 11 it is providing €1mn loan to Sparkasse Leasing Skopje for on-lending to local small and medium-sized enterprises (SMEs).
With the loan, the EBRD is further extending its SME Competitiveness Programme in North Macedonia. The goal of the programme is to help SMEs modernise their activities and take advantage of trade opportunities in the Western Balkans region and wider European market.
Local small and medium sized companies can apply for funds from this loan to invest in upgrades, including in technology, equipment or vehicles, with a view to reaching EU standards, particularly those related to product quality and safety, health and safety, and energy efficiency, the EBRD said.
“This credit line will allow them to invest in their competitiveness and boost their resilience to not only help them stand out in the local market but also increase their chances of exporting to EU countries,” said Andi Aranitasi, EBRD head of North Macedonia.
It is expected that at least 60% of investments will be in green technology and energy efficiency.
After the successful completion of the investment, SMEs will be eligible for a cashback grant of 15% of the total loan amount, funded by the EU.
To date, EBRD has invested €2.14bn through 143 projects in the country.
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