EBRD PLANS TO BOOST INVESTMENTS
The European Bank for Reconstruction and Development (EBRD) plans to increase financing critical infrastructure projects in Macedonia, including investments in transport and energy.
A senior EBRD delegation, led by First Vice-President Varel Freeman will visit Macedonia on 16-17 April. The visit underscores the importance EBRD attaches to the development of Macedonia and the Bank's support for the country's economic reforms, the Bank said in a statement.
"Macedonia is a key country for EBRD's activities in the region and the Bank expects that its funds resources and programmes be used to encorage Macedonia's economic development," The Bank said in a statement.
The EBRD delegation includes Peter Reiniger, Business Group Director for Central Europe and the Western Balkans, and Claudio Viezzoli, Director for the Western Balkans.
The delegation will meet with senior government officials, business partners and representatives of the international community in Skopje.
The EBRD is committed to continuing its support to the process of transition and economic reform. The EBRD officials will present the Bank's programme to boost investments in the country, both in the public and the private sector. The EBRD is planning to increase its activities in Macedonia by financing critical infrastructure projects, including investments in the areas of transport, municipal infrastructure, energy and energy efficiency.
Furthermore, the Bank is ready to inject equity capital in local private companies to support their expansion, as well as to further expand the EBRD activities with local financial institutions. This will provide for better financial intermediation and help stimulate the growth of the real economy
Active in the country since 1993, EBRD investments to date amount to more than €415 million and the Bank has helped generate a further €566 million from other sources. The majority of investments are in key sectors including power and energy, general industries, financial institutions and the private sector.