EBRD has been active in Macedonia since 1993. By 31 May 2005 inclusive, the Bank has concluded 24 investments in the country amounting to total of more than EUR 327 million. The current portfolio reaches EUR 205 million (19 projects), 37% of which are capital assets.
The distribution of the portfolio by sectors is as follows: 66% for infrastructure and energy, 17% for financial institutions and small business and 17% for specialised and general industries. The debt is the main instrument (94%), and its own capital is concentrated in the financial institution sector. The approved EBRD projects have mobilised additional EUR 478 million co-investments by sponsors, co-financiers and donors, thereby representing a multiplier of 1.5.
The Bank has also mobilised EUR 11,2 million as technical assistance for the Republic of Macedonia, including 61 projects for technical cooperation (TC), mainly, in banking sector, telecommunication and transport sector as well as for the municipalities.
For the purpose of prompt supply and withdrawal of funds, on 20 July 2004, the Board of Directors approved the latest strategy for the Republic of Macedonia, covering the forthcoming period of two years. In this way, EBRD joins the international efforts for support of the country directed to speeding the pace of structural reforms and providing stimulus for private enterprise development, in accordance to the Government commitments focused on economy revitalisation and job creation, as well as implementation of the Stabilisation and Association Agreement with European Union.
The strategic EBRD priorities for the forthcoming period include the following areas:
- corporative sector;
- financial sector;