The European Bank for Reconstruction and Development (EBRD) has approved a €30 million green loan to NLB Skopje under the Western Balkans Green Outcomes-Linked Debt Financing Framework (WB GOLD) — the first loan of its kind in North Macedonia, as announced in an official statement published by the EBRD. The facility will primarily channel financing to small and medium-sized enterprises (SMEs), helping them invest in sustainable technologies — from energy-efficient machinery to renewable energy systems — while growing their businesses. What makes WB GOLD distinctive is its outcome-based structure: financial incentives are tied to actual green lending results, not just intentions.
North Macedonia’s SME sector has long needed better access to affordable green financing, and the gap between environmental ambition and available capital has held many businesses back from making the transition to cleaner operations.
EBRD Head of North Macedonia Fatih Türkmenoğlu described the loan as a demonstration of “how the WB GOLD framework effectively converts financial support into tangible environmental benefits and sustainable economic growth.” NLB Skopje CEO Toni Stojanovski framed it as both an opportunity and a responsibility, arguing that “every business has the potential to be a catalyst for positive change” and that supporting sustainable innovation means actively driving the shift toward cleaner technologies and responsible resource management.
The WB GOLD framework is designed to raise the bar for green lending standards across the Western Balkans while keeping SME financing accessible — a dual objective that sits at the heart of the EBRD’s regional strategy.
The EBRD has invested over €3 billion across more than 200 projects in North Macedonia, and this loan adds a new dimension to that track record — using innovative financial design to make green investment the path of least resistance for the country’s private sector.
