Skopje, 18 October 2022 

The National Bank has begun publishing quarterly data on green loans approved to households and non-financial companies on its website, in addition to the data and indicators for the banking system of the Republic of North Macedonia. The publication of this data is one of the National Bank activities that contributes to creating a green and sustainable economy.

So far, the National Bank has undertaken several activities to raise awareness of the effects of climate change and to proliferate green finance in the Macedonian economy. Green loans are intended for improving energy efficiency of households and the private sector, investing in green technologies, materials and solutions and for investing in renewable energy sources, pollution control and prevention, environmental protection, as well as reducing climate risks. In early 2022, the National Bank conducted a Climate Risk Survey according to which 40% of domestic banks and savings houses introduced products and services in response to climate change, while 80% of respondents answered that they consider introducing new products and services in response to climate change.

Climate and social changes, which we are increasingly facing, leave visible marks on global economy and can affect the achievement of central bank goals. It is therefore necessary for policy makers to commit to mitigating the potential economic implications of climate change. Further green and digital transformation can contribute to building stronger shock-resilient economies. Challenges posed to world's economies nowadays prove that alternative solutions should be sought and that long-term consideration is needed in terms of providing sustainable sources of energy and increasing food production.

Quarterly data and indicators for the banking system in green financing can be accessed at: https://www.nbrm.mk/podatotsi_i_pokazatieli_za_bankarskiot_sistiem_na_riepublika_makiedonija.nspx.