The European Investment Bank signed an agreement with North Macedonia to open a representative office in Skopje

A historic agreement was signed in Skopje between North Macedonia and the European Investment Bank (EIB) to open a representative office in the capital of the Balkan country, BalkanEngineer.com learned from a publication by BTA. North Macedonia's Minister of Foreign Affairs and Trade Timcho Mucunski and EIB Vice-President Robert de Groot signed the agreement, which, according to the authorities, marks a new stage in relations between the country and European financial institutions.

According to Mucunski, the closer presence of the EIB "is a clear signal that the country is moving towards a modern, European, and competitive economy" and enables the government to accelerate economic transformation, support the green transition, and establish European practices.

For his part, Robert de Groot emphasized that the new representation will facilitate access to financing and technical assistance for strategic projects in transport, energy, water treatment, as well as health and education services. The EIB has already invested more than €1.6 billion in North Macedonia in important sectors such as infrastructure, energy, and the development of small and medium-sized enterprises.

The new office will operate under the umbrella of EIB Global, the bank's special unit focused on development and support outside the EU. The office is located in the EU Delegation building in Skopje.

According to the EIB's official report, this local presence will facilitate exchanges with national institutions, strengthen links with businesses and local authorities, and accelerate the identification and implementation of new sustainable projects.

The EIB is also developing partnerships with local financial institutions, such as Sparkasse Bank AD Skopje, as part of the Greening Financial Systems program, which promotes investment and sustainable financing in North Macedonia.

Photo source: ©Engineer BG via Canva.com