The European Bank for Reconstruction and Development (EBRD), a development finance institution headquartered in London, has loaned Export and Credit Bank (ECB), a commercial bank in Macedonia, EUR 6 million (USD 8.3 million) for on-lending to local businesses undertaking sustainable energy investmets or investments aimed at improving their competitiveness in local and European markets. EBRD holds a 25 percent stake in ECB.
ECB operates 21 branches providing banking services to businesses and individuals. As of the end of 2008, ECB had total assets of MRK 6.6 billion (approximately USD 150 million) and a loan portfolio of MRK 4.4 billion (approximately USD 99 million).
By Witt Gatchell, Research Associate
About the European Bank for Reconstruction and Development (EBRD):
The European Bank for Reconstruction and Development (EBRD) is a development finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe and Central Asia. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses as well as commercial banks and non-bank microfinance institutions (MFIs). As of the end of 2008, EBRD had operating assets worth EUR 5.2 billion, the equivalent of over USD 7 billion. Operating assets for fiscal 2009 were EUR 6.1 billion (USD 8 billion).
About Export and Credit Bank (ECB):
Export and Credit Bank is a commercial bank founded in 1993 in the Republic of Macedonia. The bank’s services include deposits, corporate and retail lending, foreign exchange operations, domestic and foreign payments, trading of fixed income instruments and trade finance. The bank operates 21 branches. As of the end of 2008, ECB had total assets of MRK 6.6 billion (approximately USD 150 million) and a loan portfolio of MRK 4.4 billion (approximately USD 99 million).
Sources and Additional Resources:
[1] European Bank for Reconstruction and Development, “New EBRD funds to raise competitiveness of Macedonian companies” http://www.ebrd.com/pages/news/press/2010/101015.shtml
MicroCapital’s Microfinance Universe profile: Export and Credit Bank (ECB)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Exp…
MicroCapital’s Microfinance Universe profile: European Bank for Reconstruction and Development (EBRD)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Eur…
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/.
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