EBRD and EU to boost competitiveness of small and medium-sized enterprises in North Macedonia

By Bojana Vlajcic 
25 May 2021

    • €4 million EBRD loan to Ohridska Banka for on-lending to local businesses to help them reach EU
    • Cashback incentives of up to 15 per cent of the loan amount, funded by the EU
    • Collaboration to build a more competitive SME sector in North Macedonia 

Small and medium-sized enterprises (SMEs) in North Macedonia (https://www.ebrd.com/where-we-
are/north-macedonia/overview.html) will be able to access €4 million to help them become more
competitive, thanks to a new EBRD loan extended to Ohridska Banka

SMEs can also obtain technical assistance, including hands-on EBRD advisory support
After successfully completing their investment, they will also be eligible for a cashback grant of 15 per cent
of the total loan amount, funded by the European Union (https://www.ebrd.com/who-we-are/structure-and-
management/shareholders/european-union.html) (EU).

The loan to Ohridska Banka is a part of the Western Balkans SME Competitiveness Support Programme
(https://web-sme-csp.com/), to which the EBRD provides loans and the EU contributes incentive payments
and technical assistance. The goal is to help SMEs modernise their activities and take advantage of trade
opportunities in the Western Balkans region and wider European market.

Andi Aranitasi, EBRD Head of North Macedonia, said: “We are stepping up our support to local SMEs in
North Macedonia by signing a new credit line with Ohridska Banka to improve access to well-structured
finance and advice to help SMEs grow. Together with the EU, through our very successful SME
Competitiveness Programme, we have already reached more than 120 SMEs with combined funding of more
than €30 million and we hope that many more will benefit from this opportunity.”

Ambassador David Geer, Head of Delegation of the European Union, said: “Access to finance is essential for
the future growth and development SMEs in North Macedonia. This support is part and parcel of our
continuing efforts to promote a positive business climate for SMEs and thereby stimulate the creation of
jobs and economic recovery”.

Nina Nedanoska, President of Management Board of Ohridska Banka AD Skopje, said: “With this loan
agreement we continue to support SMEs by offering them access to finance and opportunity to invest
modernization, progress and prosperity, especially during these challenging times. The combination of loans
and grants financed by EU, has proven to be a strong tool to encourage SMEs to become more competitive
on both local and foreign markets, at the same time making a positive impact on the domestic economy. We
hope that our continuing partnership with the EBRD will help to create more successful local businesses and
will boost entrepreneurial potential.”

The EBRD is a major institutional investor in North Macedonia. To date, the Bank has invested €2.14 billion
through 145 projects in the country, where it focuses on the expansion of the local private sector, the
promotion of regional and international integration and the sustainable use of resources.

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