The European Bank for Reconstruction and Development (EBRD) is providing a €4mn loan to North Macedonia’s Ohridska Bank for on-lending to local businesses to help them reach EU standards, the lender said on May 25.
North Macedonia’s small and medium-sized enterprises (SMEs) will be able to access the EBRD loan to become more competitive and also can obtain technical assistance.
"After successfully completing their investment, they will also be eligible for a cashback grant of 15% of the total loan amount, funded by the EU," the EBRD said in a statement.
The loan to Ohridska Banka is a part of the Western Balkans SME Competitiveness Support Programme, to which the EBRD provides loans and the EU contributes incentive payments and technical assistance.
“Together with the EU, through our very successful SME Competitiveness Programme, we have already reached more than 120 SMEs with combined funding of more than €30mn and we hope that many more will benefit from this opportunity,” Andi Aranitasi, EBRD head of North Macedonia, said.
To date, the EBRD has invested €2.14bn through 145 projects in the Balkan country.
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