Boosting competitiveness by financing the Macedonian enterprises

€10 million package to Ohridska Banka

The EBRD is boosting the availability of financing to the real economy in FYR Macedonia with a €10 million financial package to Ohridska Banka, Societe Generale Group for on-lending to small and medium-sized enterprises (SMEs).

Established as an independent local commercial bank in 1995 based in Ohrid, Ohridska Banka became a part of the Societe Generale Group in 2007. It is currently the fourth largest Macedonian bank.

The EBRD financing includes a €5 million loan under the Bank’s new Private Sector Support Facility for Western Balkans*, and an additional €5 million under the EU/EBRD Western Balkans Sustainable Energy Credit Line Facility**.

The proceeds of the loans will be used to support the development of Macedonian businesses with investments to improve environmental, health and safety standards and product quality in line with EU requirements, as well as to finance sustainable energy investments.
The project will enable Macedonian companies to become more energy efficient and strengthen their competitiveness, enabling them to access the EU market.

“This credit line will enable Ohridska Banka to diversify its portfolio of SME lending products, contributing to the continuous development of Macedonian businesses, and helping them to meet European quality standards,” said Francis Malige, EBRD Director, Financial Institutions, Western Balkans, Belarus, Moldova and Turkey.

“With this partnership Ohridska banka continues to actively support the Macedonian economy. The funds will be used to provide financing to the growing private sector needs in the country, which is very important at this stage of the economic development. With focus on financing green energy, energy efficiency and renewable energy projects, Ohridska banka stimulates financing production facilities and investments in compliance with EU standards. By this, we strive to become a bank of choice for the companies who need sophisticated financing. Additionally, we will benefit of Societe Generale’s expertise in the support of such type of financing, which so far has not been developed on the Macedonian market.”, said Mrs. Jitka Pantuckova, President of the Board of Directors of Ohridska banka, Societe Generale Group.

Since the beginning of its operations in FYR Macedonia, the EBRD has committed more than €510 million in over 40 projects in key sectors of country’s economy, mobilising addition investment worth more than €620 million.

^* Western Balkans Private Sector Support Facility is a €110 million framework aimed at supporting businesses in the region to align with EU standards.

^** EU/EBRD Western Balkans Sustainable Energy Credit Line Facility is a joint programme of the EBRD and the European Commission to provide up to €60 million in loans to banks involved in lending for energy efficiency and renewable energy projects in Serbia, Bosnia and Herzegovina, FYR Macedonia, and Montenegro.

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The EBRD, owned by 61 countries and two intergovernmental institutions, aims to foster the transition from centrally planned to market economies from central Europe to central Asia. Visit the EBRD’s website: www.ebrd.com