The Former Yugoslav Republic of Macedonia (FYROM)
The EIB launched its lending in the country in 1977, with a EUR 3 million loan to the energy sector. The total amount of financing provided to the country since 1998 is approximately EUR 330 million. EIB financing has aimed, in particular, at promoting economic activity and fostering balanced regional economic prosperity through the expansion of transport and energy infrastructures. Efforts have also been made by the EIB in supporting the local economy through the network of local commercial banks.
The most important project so far, totalling on its own EUR 100 million, was signed in 2009 between the EIB and the Macedonian Bank for Development Promotion (MBDP). This operation is aimed at supporting SMEs and investments in the fields of the knowledge economy, energy and environmental protection throughout the country.
In 2010, the EIB signed a EUR 50 million loan with the government for financing water and wastewater investments in the country. This operation represents a continuation of the EIB's support for FYROM and is fully in line with the EIB's lending priorities. Over the coming years, the EIB expects to continue its financing of projects in FYROM, with the aim to support the country in its path towards European integration.