The declaration was signed by the Macedonian Minister of Economy Kreshnik Bekteshi, EBRD President Odile Renaud-Basso, EIB Vice-President Thomas Östros, and representatives of the Climate Investment Funds, Cassa Depositi e Prestiti, the Council of Europe Development Bank and KfW. Contact online >>
The declaration was signed by the Macedonian Minister of Economy Kreshnik Bekteshi, EBRD President Odile Renaud-Basso, EIB Vice-President Thomas Östros, and representatives of the Climate Investment Funds, Cassa Depositi e Prestiti, the Council of Europe Development Bank and KfW.
EBRD President Odile Renaud-Basso said: "We are very proud to be a partner of North Macedonia in this innovative country-led platform, which blends government commitment, international support and private finance to accelerate a just energy transition. We believe this is a model of how climate finance can be scaled up, in North Macedonia, the Western Balkans and beyond, and we look forward to working closely with the government to support the delivery of these high ambitions."
As one of the partners of the declaration, EIB Global intends to support North Macedonia in achieving a rapid and just transformation of its energy sector, while ensuring energy security. The Bank has significantly stepped up its engagement with the government, public utilities and the private sector in order to generate new projects in renewable energy, energy efficiency and energy infrastructure upgrades. These efforts have resulted in over €100 million in green investments signed for North Macedonia in 2023 and new technical assistance for sustainable projects.
You can find an overview of the EIB''s activities at COP28 on our website. The EIB has a pavilion in the side event area of the blue zone and is running a series of events on numerous topics (full agenda here). You are welcome to watch the sessions live or later at your convenience. The EIB is also sharing a pavilion with the group of multilateral development banks (full agenda here).
In 2019, the EIB''s energy lending policy was adopted to end financing for any unabated fossil fuel energy projects, including natural gas, becoming the first multilateral development bank to do so.
With its Climate Bank Roadmap the EIB Group aims to support €1 trillion of investment in climate action and environmental sustainability through the critical decade, 2021-2030.
The EIB has committed to increase investment in climate action and environmental sustainability to more than 50% of annual EIB lending by 2025 — last year that was exceeded with 58%.
EIB Global is the EIB Group''s specialised arm devoted to operations outside the European Union, and a key partner of the EU Global Gateway strategy. We aim to support at least €100 billion of investment by the end of 2027, around one-third of the overall target of Global Gateway. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to local communities, companies and institutions through our offices across the world.
The EIB has been active in the territory of North Macedonia since its establishment in 1991, providing finance to support key infrastructure projects, local authorities and small businesses. The EIB has provided €1.3 billion of financing to small businesses and transport, energy and utility infrastructure projects. It makes its technical and financial expertise available to its local partners through tailored advice and technical assistance. For more information regarding the EIB''s projects in North Macedonia, visit North Macedonia and the EIB.
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The U.S. – Europe Energy Bridge improves European energy security by connecting partners in the region to American investors, technology, and expertise. Theselinkages create a path to more reliable, affordable energy for businesses and consumers and promote integration with regional and global energy markets— empowering partners to break free from the energy and financial traps that produce insecurity and instability. This foundational work will lead to a more secure Europe and accelerate a just and secure clean energy transition for the region.
JUST AND SECURE ENERGY TRANSITION (JSET) | September 2022 – September 2027; $20,000,000JSET supports energy utilities and suppliers, market operators, and regulatory agencies in transitioning the region to fully functional, liquid, and transparent energy markets linked to Central Europe, incentivizing private investment and building the basis for the clean energy transition.
CONNECT FOR GROWTH (C4G) | September 2021 – September 2026; $15,000,000C4G partners with Ministries and energy sector stakeholders to diversify energy supplies and improve energy sector resilience (e.g., improved planning for and response to supply disruptions, joining energy markets for increased efficiency, etc.) in the face of growing threats to regional energy security.
CRITICAL INFRASTRUCTURE DIGITALIZATION AND RESILIENCE (CIDR) | September 2021 - September 2026; $30,000,000CIDR supports host governments and operators of critical infrastructure (e.g., energy, finance, health, telecommunications, water, and others) to develop the policies, skilled workforce, and organizational/operator-level capabilities to address rising cybersecurity threats.
INVESTMENTS IN DEVELOPING ENERGY ASSETS (IDEA) | September 2022 – September 2027; $20,000,000IDEA provides feasibility studies and transaction support for investments in all segments of the energy sector, including heat and power generation facilities, transmission and distribution networks, renewable sources, demand-side improvements, and water supply and sanitation infrastructure.
ENHANCING STABILITY AND TECHNICAL EXPERTISE IN EUROPEAN AND EURASIAN ENERGY MARKETS (ESTEEM) | March 2020 - September 2024; $4,500,000ESTEEM builds the capacity of national regulatory authorities to oversee entities that provide critical public services (e.g., electricity, natural gas, water, telecommunications), incentivizing investment while minimizing corruption.
Speeding integration of Ukraine and Moldova into Europe and improving energy security USAID supported Ukraine and Moldova in disconnecting from the Russian electric power system and synchronously interconnecting with the European continental grid in 2022. This achievement was major step forward in promoting their energy security, while also supporting them on their path to EU membership.
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