The Green & Growth Program was introduced to companies in Kichevo and Bitola on 16 and 17 September, at events organized by the regional chambers of the Economic Chamber of Macedonia. Designed to promote green growth, the program focuses on supporting the economies of the country’s South-West region and Pelagonija. Around 60 participants took part in the presentations, including representatives from municipalities, companies, and the banking sector.

The initiative is the result of a partnership between the European Bank for Reconstruction and Development (EBRD) and the Clean Technology Fund, which created the new financial product to stimulate investment and strengthen the capacity of small and medium-sized enterprises (SMEs) and the corporate sector in the process of green transformation.

The Green & Growth Program combines several components:

i)       Financing through credit lines available via the participating banks NLB Banka and Sparkasse Banka.

ii)     Investment support in the form of grants amounting to 10–15% of the utilized financing, payable after successful completion of the investment.

iii)    Free technical assistance for financial institutions and final beneficiaries, supported by the Clean Technology Fund.

iv)   Advisory services for small businesses.

Explaining the rationale behind the instrument, Naum Ribaroski, Assistant Director at the EBRD, said: “This financial product is part of the broader Just Energy Transition Investment Program (JETIP), which aims to help Macedonia address the challenges of the upcoming closure of coal-based power plants. Through the Green & Growth Program, targeted loans will be provided to local companies of all sizes in Pelagonija and the South-West region, which are most affected by the effects of decarbonization in the country.”

The program is intended to support Macedonia’s decarbonization objectives and a just energy transition. By offering accessible financing for green investments, it seeks to empower regional businesses to adopt cleaner technologies, improve energy efficiency, and stimulate sustainable growth.

Companies interested in more information about the Green & Growth Program and how to apply can contact Sparkasse Banka or NLB Banka.