North Macedonia’s commercial banks have reported a significant rise in green loans during the second quarter of 2024, with an annual increase of 14.9%, amounting to MKD2.6bn (€42.3mn), according to the country’s central bank on August 27. Since the end of 2019, when the central bank began tracking green loans, these environmentally-focused loans have surged 2.8 times, reaching MKD20.4bn by mid-2024.
The bulk of this financing, MKD19.4bn, was directed towards companies, while households received MKD1bn. Despite this robust growth, green loans still represent a modest share of the overall loan portfolio, rising from 2.2% in 2019 to 4.5% by the second quarter of 2024.
The National Bank has underscored its commitment to climate change awareness and the promotion of green financing, viewing these efforts as central to its strategy for supporting the green transition within North Macedonia’s economy.
