EIB and National Bank of North Macedonia Complete Climate Risk Capacity-Building Initiative

EIB and National Bank of North Macedonia Complete Climate Risk Capacity-Building Initiative

(IN BRIEF) The European Investment Bank (EIB Global) and the National Bank of the Republic of North Macedonia (NBRNM) have completed a climate risk capacity-building initiative under the Greening Financial Systems Advisory Programme. The project has enhanced NBRNM’s ability to assess climate-related risks and support green investments, enabling local financial institutions to assist businesses with tailored climate risk guidance. The programme also facilitated the creation of climate risk hazard maps and supported national efforts in climate-related financial reporting.

(PRESS RELEASE) LUXEMBOURG, 28-May-2025 — /EuropaWire/ — The European Investment Bank (EIB Global) and the National Bank of the Republic of North Macedonia (NBRNM) have successfully completed a climate risk capacity-building initiative under the Greening Financial Systems (GFS) Advisory Programme. This project, which involved over 50 experts from the NBRNM, has strengthened their ability to assess and manage climate-related risks, boost green investments in local businesses, and support a sustainable economic transition by developing tailored financial regulations with the guidance of EIB’s Advisory team.

Through this technical upskilling, the NBRNM is now well-equipped to share its enhanced competencies with local financial institutions, enabling them to conduct climate vulnerability assessments and integrate climate scenarios into their strategic planning. As a result, these institutions can provide informed, customized guidance to businesses on investments needed to address climate risks specific to their operations.

Anita Angelovska Bezhoska, Governor of the National Bank of the Republic of North Macedonia, emphasized, “Building resilience to climate-related financial risks is no longer optional – it is a strategic imperative. Our valuable partnership with the EIB under the Greening Financial Systems programme has significantly enhanced our institutional capacity to integrate climate considerations into our regulatory and supervisory frameworks. This strengthens our role in safeguarding financial stability and supports the broader financial sector in adapting to the realities of a changing climate.”

Björn Gabriel, EIB representative to North Macedonia, highlighted, “Through this collaboration, we are fostering investments in energy efficiency and climate adaptation among Macedonian companies, making a meaningful contribution to the future resilience and competitiveness of the national economy.”

In addition to training, the GFS programme has supported several key initiatives, such as the development of Physical and Transition Climate Risk Hazard Maps for North Macedonia and a national survey on climate risk awareness and sustainability practices among companies. It has also provided strategic guidance on climate-related financial reporting, helping align the NBRNM and the broader financial sector with global frameworks.

The EIB’s Greening Financial Systems programme is funded by the International Climate Initiative (IKI) on behalf of the German Federal Ministry of Economic Affairs and Climate Action (BMWK). The programme contributes to the NDC Partnership, supporting financial regulators in aligning with the objectives of the Paris Agreement.

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SOURCE: European Investment Bank