Public Announcements

EUR 10 million for recapitalization of the Development Bank by the state, intended to support domestic companies to deal with the effects of the energy and price crisis

13/12/2022

Based on the Decision of the Government of the Republic of North Macedonia, Official Gazette No. 237 dated 07.11.2022, and Decision of the Shareholders Assembly of the Development Bank of North Macedonia no. 02-4379/1 dated 13.12.2022, the initial capital of the bank was increased in the amount of MKD 620.000.000,00, that is, the issuance of 199.485 ordinary shares. With this, the total capital and reserves of the bank amount to EUR 57.5 million.

 
With the recapitalization, the Development Bank strengthens the potential for further support of the real sector in the country and the opportunity for Macedonian companies to have easier access to favorable loans. The funds from the recapitalization will be intended for the extension of credit lines for energy efficiency investments and investments in renewable energy sources, as one of the state's measures to deal with the effects of the energy and price crisis.
 

The Development Bank played a significant role in dealing with the crises, faced by domestic companies in the past period, through the introduction of interest-free credit lines and credit lines with favorable interest rates. The energy and price crisis imposed the need for companies to adapt to energy saving through energy efficiency investments and investments in renewable energy sources that would provide them with long-term energy cost savings, market sustainability, and environmental protection. In that direction, the Development Bank continuously adapts its products in the direction of supporting companies in the new operating conditions.