Supporting international financial institutions is pivotal in fostering and securing funding for the implementation of the green transition, which demands substantial investments. During a meeting on Friday, National Bank Governor Anita Angelovska-Bezhoska, along with Vice-Governors Ana Mitreska and Fadil Bajrami, Chief Economist Aneta Krstevska, engaged with a high-level delegation from the International Finance Corporation (IFC), including Regional Director Rana Karadsheh Haddad, Regional Manager Nicolas Marquier, and Country Officer Visar Perani.

The discussions underscored IFC’s role in aiding North Macedonia through projects in private sector development and the green transition, as per a press release by the National Bank.

Governor Angelovska-Bezhoska outlined the central bank’s strides in addressing climate change, highlighting initiatives within its strategic priorities. She detailed regulatory measures for banks to address and report on climate risks, encompassed in the 2023-2025 Mid-Term Plan. The plan outlines a comprehensive framework for managing climate risks, including stress testing domestic banks for climate-related vulnerabilities.

“IFC expressed support for the central bank’s efforts in managing climate risks to ensure financial stability. Tangible steps have been taken to bolster banks’ resilience and enable them to finance the green transition. The IFC team discussed upcoming projects in green finance and sustainable agriculture, reaffirming their commitment to our country’s development,” the press release stated.

National Bank representatives expressed interest in collaborating on financial education and inclusion, particularly focusing on gender equality and the inclusion of individuals with disabilities. IFC welcomed this initiative and expressed readiness for further collaboration and coordination.