The World Bank will lend EUR 93.8 million to North Macedonia to strengthen the country’s fiscal position and financial sector, as well as facilitate its green transition.
The new financing under the North Macedonia Sustainability and Resilience Development Policy Operation approved by the World Bank Board of Directors, aligns with North Macedonia’s macroeconomic priorities as outlined in the Government Fiscal Strategy 2024-28 and the Government’s Economic Reform Program 2023-25, the World Bank said in a press release.
“North Macedonia, similar to other countries in Europe, is grappling with persistent inflationary pressures, putting strain on public finances amid monetary tightening and rising borrowing costs. With this support, we aim to provide immediate financial resources to strengthen fiscal sustainability while facilitating the country’s much-needed climate reforms and energy transition,” said the World Bank Country Manager for Kosovo and North Macedonia, Massimiliano Paolucci.
