As part of the EIB’s Greening Financial Systems (GFS) advisory initiative, more than 50 experts from the National Bank of the Republic of North Macedonia received training on how to assess and manage climate-related risks, promote green investments among local businesses, and develop environmentally conscious financial regulations.
The initiative enables the central bank to share its newly acquired expertise with local financial institutions, which will be better equipped to conduct climate risk assessments and integrate climate considerations into financial planning. In turn, they can offer tailored, informed guidance to businesses on how to adapt to climate change.
Complementary initiatives
Beyond the training, the GFS programme also supported several complementary initiatives, including the development of climate risk maps for North Macedonia, a nationwide survey on corporate climate awareness and sustainability practices and advisory support to align climate-related financial reporting with international standards.
“Building resilience to climate-related financial risks is no longer optional – it is a strategic imperative,” said Anita Angelovska Bezhoska, Governor of the National Bank of the Republic of North Macedonia. “Through our valuable partnership with the EIB under the Greening Financial Systems programme, we have significantly enhanced our institutional capacity to integrate climate considerations into our regulatory and supervisory frameworks. Not only does this strengthen our bank’s role in safeguarding financial stability, but it also supports the broader financial sector in adapting to the realities of a changing climate.”
The programme is funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) through the International Climate Initiative (IKI). Its goal is to help financial regulators align their work with the objectives of the Paris Agreement.