EBRD Provides €6 Million Loan to KAM for Expansion and Green Initiatives in North Macedonia

EBRD Provides €6 Million Loan to KAM for Expansion and Green Initiatives in North Macedonia

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has announced a €6 million loan agreement with KAM, a leading food retailer in North Macedonia, aimed at supporting the company’s expansion plans and green initiatives. KAM intends to utilize the funds to expand its modern grocery chain, renovate existing stores and logistical facilities to enhance energy efficiency, and upgrade its distribution center. Additionally, the EBRD will assist KAM in achieving BREEAM certification, a sustainability rating for buildings. Through advisory programs funded by the EU, the EBRD will further support KAM’s operational development, including strategic management and corporate governance enhancements. As a key player in the North Macedonian retail market, KAM’s growth aligns with the EBRD’s objectives of promoting competitiveness, facilitating the green transition, and fostering regional and global market integration for the country.

(PRESS RELEASE) LONDON, 24-Feb-2024 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) has signed a €6 million loan with KAM, a leading food retailer in North Macedonia. The loan will finance the company’s ambitions to expand its modern grocery chain accross the country and to renovate its existing stores and logistical facilities, making them more energy efficent alongside other improvements.

KAM will also use the funds to upgrade its distribution centre and the Bank will support the company in complying with Building Research Establishment Environmental Assessment Method (BREEAM) principles. BREEAM certification is a novelty on Macedonian retail market and rates buildings based on their sustainability features.

The EBRD will be supporting the company in further development through the advisory programs funded by EU, that would address several aspects of KAM operations including the enhancing of the strategic management and corporate governance improvements,

KAM is a leading grocery retailer in North Macedonia and the first hard discount retail chain across the Western Balkans. The company operates 80 stores across 20 cities and has recently expanded its business to Bulgaria and Kosovo.

Since North Macedonia joined the EBRD in 1993 the Bank has invested more than €2.7 billion in 186 projects there, nearly half of which have been in the private sector. The Bank’s priority for the country is to support competitiveness, the green transition and further integration into regional and global markets.

Media Contact:

Tel: +44 207 338 7805
Email: Group-PressUnit@ebrd.com

SOURCE: EBRD