The European Bank for Reconstruction and Development (EBRD) is providing a new €5 million financing package to Sparkasse Bank Makedonija AD Skopje under the Western Balkans Green Economy Financing Facility (WB GEFF II) for lending to households in North Macedonia that want boost their energy efficiency.

The funds will be available for investments in high-performance green technologies, materials and solutions in privately owned residential dwellings and buildings. On successful completion of the projects, borrowers will be eligible for up to 20 per cent cashback, funded by the European Union.

In addition, the EBRD is providing a €20 million unfunded risk-sharing facility to Sparkasse Bank, through which it will guarantee up to 50 per cent of the lender’s existing and new corporate exposure, thereby reducing the risk weighting and capital requirements on those loans. By freeing up funds, the facility will increase Sparkasse’s capacity to finance additional green economy projects.