The European Bank for Reconstruction and Development (EBRD) said on August 9 it is providing a senior unsecured loan of up to €2mn to Procredit Bank Macedonia (PCBM) for on-lending to residential sector for green energy transition
Procredit Bank Macedonia is the 6th largest bank in North Macedonia, with assets of €577mn and a market share of 6% by total assets, 7.6% by net loans and 5.7% by customer deposits.
The loan will be given under the Western Balkans GEFF II Programme. It is envisaged to provide financing for on-lending to individuals, housing collectives, producers, vendors of green technologies, and service providers for investments supporting Green Economy Transition in North Macedonia, the EBRD said.
The project will contribute towards building a more competitive financial sector by building the capacity of the Private Finance Initiative (PFIs) for financing green economy projects.
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