The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have strengthened their efforts to support inclusive entrepreneurship in North Macedonia by signing €5 million in financing agreements with ProCredit Bank AD Skopje. The funding will be channelled through two dedicated programmes focused on empowering women and young entrepreneurs in the country. The package is divided into two equal parts.

The first €2.5 million is provided under the Women in Business (WiB) programme, part of the Western Balkans Phase II initiative. The second €2.5 million is provided under the Youth in Business (YiB) programme. Both facilities are structured as senior unsecured loans.In addition to financing, the EU is supporting both programmes through technical assistance and a first-loss counter-guarantee mechanism under the European Fund for Sustainable Development Plus programme.

This support helps reduce risk and encourages greater lending to underserved groups. This marks the second participation of ProCredit Bank in both the WiB and YiB programmes, reflecting its continued commitment to improving access to finance for women-led and youth-led enterprises in North Macedonia. The bank will on-lend 100 per cent of the proceeds to eligible micro, small, and medium-sized enterprises (MSMEs) owned or managed by women and young entrepreneurs.

The Women in Business loan will specifically support women-led MSMEs, helping to increase women’s participation in economic activities and encouraging business growth across different regions of the country, including areas outside the capital city. The initiative is designed to address long-standing barriers that women face in accessing finance and expanding their businesses.

The Youth in Business loan will support enterprises owned or managed by individuals under the age of 35. It aims to help young entrepreneurs build sustainable businesses, expand operations, and generate employment opportunities, thereby contributing to stronger economic resilience and long-term growth.According to Fatih Türkmenoğlu, EBRD Head of North Macedonia, supporting women and young entrepreneurs is essential for building a more inclusive and competitive economy.

He noted that the €5 million package will help ensure that these businesses can access the finance they need to invest, grow, and create jobs, strengthening the long-term partnership between EBRD and ProCredit Bank.Stevce Kuzmanovski, Member of the Management Board of ProCredit Bank, stated that the continued cooperation with EBRD under the WiB and YiB programmes reflects a shared goal of developing a more inclusive and dynamic business environment.

He added that by supporting women and young entrepreneurs, the bank aims to encourage more success stories, promote sustainable growth, and contribute to the overall development of the national economy. He also noted strong demand for previous financing cycles, highlighting the entrepreneurial potential within the country.Michalis Rokas, EU Ambassador, emphasized that improving access to finance for women and young entrepreneurs is key to unlocking North Macedonia’s economic potential.

He said that such support helps create jobs, strengthen local communities, and ensure that economic progress benefits a wider section of society, contributing to more inclusive growth and poverty reduction. ProCredit Bank AD Skopje is a long-standing partner of the EBRD and one of the leading lenders to MSMEs in North Macedonia, with a strong focus on responsible banking and sustainable development practices. Overall, the EBRD has invested more than €3 billion in over 210 projects in North Macedonia, making it one of the country’s major institutional investors and a key contributor to its economic development.