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More press releases
North Macedonia: EIB Global supports greening of the financial system through dedicated advisory programme
EIB Global, the financial arm of the European Investment Bank (EIB) for activities outside the European Union, has signed a cooperation agreement with the National Bank of North Macedonia under the Greening Financial Systems (GFS) programme. The agreement will enable the provision of advisory services to the National Bank designed to enhance its regulatory and supervisory climate risk management practices, as well as the reporting capacities of the financial sector in the country. These activities will help local banks understand the climate risk exposure of companies in North Macedonia and support their sustainability practices.
North Macedonia: EU supports railway network to complete Corridor VIII connection to Bulgarian border
Together with the Government of North Macedonia, the European Union (EU), including its bank — the European Investment Bank (EIB) — and the European Bank for Reconstruction and Development (EBRD) have announced a €560 million financial arrangement through Team Europe for the third phase of the Eastern section of the Corridor VIII rail network. Provided under the Global Gateway initiative, the funds will enable 24 km of railway line to be built between Kriva Palanka and the border with Bulgaria, and 88 km of track between Kumanovo and the border to be electrified. Once completed, the new rail line will be able to transport about 500 000 tonnes of freight and half a million passengers a year, contributing to better connectivity, climate resilience and socioeconomic development in North Macedonia and the region.
COP28: North Macedonia: EIB Global co-signs Joint Declaration on the Just Transition Investment Platform
At the COP28 climate conference, EIB Global, the arm of the European Investment Bank for activities outside the European Union, signed a Joint Declaration on the Just Transition Investment Platform for North Macedonia. Initiated by the Government of North Macedonia with technical support from the European Bank for Reconstruction and Development (EBRD), the platform aims to help mobilise up to €3 billion in investments and policy and technical assistance to accelerate the country’s energy transition and the deployment of 1.7 GW in new renewable energy capacity until 2030, along with grid and storage infrastructure. The support package is designed to ensure the positive outcomes of the green transition, while protecting the jobs and livelihoods of affected communities.