The declaration brings together partners to help the country mobilise investments, policy support and technical assistance to accelerate the energy transition and meet its climate and development goals; EIB Global (https://www.EIB.org) will help accelerate its implementation through enhanced technical support and financing; in 2023, the Bank has invested over €100 million to support green projects in North Macedonia, while initiating new technical assistance for sustainable finance.
At the COP28 climate conference, EIB Global, the arm of the European Investment Bank for activities outside the European Union, signed a Joint Declaration on the Just Transition Investment Platform for North Macedonia. Initiated by the Government of North Macedonia with technical support from the European Bank for Reconstruction and Development (EBRD), the platform aims to help mobilise up to €3 billion in investments and policy and technical assistance to accelerate the country’s energy transition and the deployment of 1.7 GW in new renewable energy capacity until 2030, along with grid and storage infrastructure. The support package is designed to ensure the positive outcomes of the green transition, while protecting the jobs and livelihoods of affected communities.
EIB Vice-President Thomas Östros said: “We welcome the launch of this platform that is fully in line with the EIB Group Climate Bank Roadmap and our ambitions to support a just transition and just resilience beyond the European Union. As a member of the European Commission’s initiative for Coal Regions in Transition for the Western Balkans and Ukraine, North Macedonia is able to benefit from technical support for the preparation of strategies and programmes facilitating the sustainable transition from coal. Now, thanks to EIB Global’s expanded local teams in the Western Balkans, we plan to contribute to the platform’s implementation and help North Macedonia reach its ambitious climate goals.”
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.
Minister of Economy of North Macedonia Kreshnik Bekteshi said: “Our commitment to the just transition underscores our dedication to the principles of the Paris Agreement and represents a significant stride towards a more sustainable, competitive and just future. We have made significant progress in the last year in terms of taking the necessary steps towards the transition process, adopting the Just Transition Roadmap. We are very pleased to see that our efforts and ambitions are being acknowledged by the international community, and are delighted to become the first country in Europe and one of the two first small countries to join the Accelerating Coal Transition programme.”
