Cooperation with European Bank for Reconstruction and Development (EBRD)

European Bank for Reconstruction and Development www.ebrd.com was established in 1991, seated in London, with the mission of financing structural projects in former socialist countries in Central and Eastern Europe, supporting them in both their transition to market economy and building democratic societies.

At the moment, EBRD is one of the largest investors in the region, attracting high level of foreign direct investments as a result of its financing. Bank is owned by its Member States, i.e. 65 countries, Republic of Macedonia being one of them, and 2 intergovernmental institutions (http://www.ebrd.com/pages/about/who/shareholders.shtml). Bank’s capital is provided by its Member States. However, despite the fact that Member States appear as shareholders, EBRD invests, in addition to the public sector, in the private sector as well.

EBRD provides financing for banks, industries and businesses, i.e. financing of new investments and investments in already existing companies. In addition, EBRD works with state-owned enterprises, i.e. assists them in their privatization, restructuring and improvement of municipal services. EBRD mandate expressly indicates that the Bank works with countries dedicated to democratic principles. EBRD also puts emphasis on environmental protection policy, being part of all EBRD investments.

EBRD has been operational in the Republic of Macedonia since 1993 and it is one of the largest investors in the country. Cooperation between EBRD and the Republic of Macedonia is within the priority sectors and goals set in 2013 – 2016 EBRD Strategy for the Republic of Macedonia, which EBRD Board of Directors approved on 1st May 2013. The Strategy focuses on the following 3 areas:

  1. enhancing competitiveness and facilitating entrance of private investments in corporate and municipal sector;
  2. promoting energy efficiency and utilizing renewable energy sources; and
  3. promoting regional integration.

From 1993 to date, EBRD has approved 104 projects in Republic of Macedonia in the total amount of EUR 1,620 million, 87% out of which is allocated for projects in the public sector, while the rest of the funds are allocated for projects in the private sector. 

On-going Projects financed by European Bank for Reconstruction and Development