Financing opportunities

It is essential to carefully assess the various financing options available and select those that best suit your company and decarbonisation project.

In North Macedonia, several financing options are available to businesses to help them decarbonise their activities. The North Macedonian government, through the Ministry of Economy, has several programmes for supporting of decarbonisation. The government institution Fund for Innovation and Technological Development supports investments in various sectors, including energy efficiency and renewable energy. The IPARD programme (Instrument for Pre-Accession Assistance for Rural Development), through the Ministry of Agriculture, is supporting projects in agriculture and other businesses in rural areas. There are several programmes by the municipalities that support private individuals.

International funding is available through the EIB Credit line, a strong contribution to the country's transition towards a net-zero carbon future. As EU Ambassador to North Macedonia David Geer remarked:

“This credit line will support private sector investments in energy efficiency, renewable sources of energy and the circular economy. It will provide opportunities for the economic development of North Macedonia while contributing to a sustainable, net-zero carbon future. More specifically, this green credit line — promoted jointly by the European Union and the EIB — will help Macedonian small and medium-sized companies become more competitive and innovative in the context of today’s rapid-paced green transition.”

The EBRD GEFF credit line, delivered through partner financial institutions, is dedicated to financing EE and RE projects for SMEs. Furthermore, third-party financing models, such as the ESCO models for energy efficiency, continue to develop and present interesting options.