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 North 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 North 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 2019-2024 EBRD Strategy for the Republic of North Macedonia, which EBRD Board of Directors approved on 22nd May 2019. The Strategy focuses on the following 3 areas:
- Supporting Competitiveness by Enhancing Value Chains, Upskilling the Workforce, and Strengthening Governance;
- Strengthening Regional Integration, Soft Connectivity and Support EU Approximation;
- Supporting Green Economy Transition through a More Sustainable Energy Mix and Greater Resource Efficiency.