8th September 2023, Skopje – Government of the Republic of North Macedonia finalizes the negotiations about the funds to be provided from the Council of Europe Development BankCEB.  Request therefor has already been submitted to the Bank, whereby it is expected for the requirements to be met by the end of this month and for the funds to be approved by the Bank by the end of the year, as announced at the meeting held between Minister of Finance, Fatmir Besimi and the Governor of CEB Carlo Montichelli and Vice Governor of CEB, Tomáš Boček in Pariz.

“Council of Europe Development Bank is one of the leading international financial institutions in our country, supporting investments in the field of public and social infrastructure, while also providing support for the private sector, in particular small- and medium-sized enterprises. This new credit line is designed specifically for supporting small and medium-sized enterprises and some of the wide range of projects the Government and other financial institutions are working on, all to the end of supporting their liquidity, as well as the green investments in times of crisis,” Minister Besimi said.

He pointed out that it was about EUR 50 million destined for the domestic companies, to be made available via the Development Bank, as a replenishment of the already existing instruments, being also made available via the Development Bank with Government’s support, intended therefor.

However, the Banks has already approved a grant of EUR 1.1 million under the Green Social Investment Fund, which will be used for financing the installation of photovoltaic power plants in the school facilities in our country, being renovated also via a Project financed by this financial institution.

The interlocutors also affirmed the successful cooperation between Republic of North Macedonia and CEB, participating in the implementation of nine public sector projects, amounting to EUR 264 million. Support is intended for health, education and justice sectors, construction of social flats, as well as support of small- and medium-sized enterprises, whereby project implementation dynamics is expected to get intensified in the upcoming period as a result of the undertaken reforms as regards public finances.

Points of discussion also covered the strategic Bank’s framework in the coming period and the initiative for increasing its capital, which will provide for its expanded activities in the period 2023-2027 in the Member States, to which Republic of North Macedonia, as a member thereof, responded positively.


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