Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

North Macedonia

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Borrower

Government of North Macedonia

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Law and Government
Technical Cooperation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Advisory Services

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

Not Disclosed

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 28, 2025

Disclosed by Bank Jan 20, 2025

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the North Macedonian authorities (coordinated by the Ministry of Energy, Mining and Mineral Resources ("MEMMR") and supported by EBRD) have developed a new initiative, representing the Just Energy Transition Investment Platform ("JETIP"), the flagship initiative announced at COP28.

JETIP aims at phasing out 764 MW of coal-fired power generation capacity to enable a substantial emissions reduction and facilitate investments in renewable energy of >USD 2 billion (primarily from commercial lenders, IFIs and investors) to support the installation of 1,000 MW of new renewable energy capacity through a range of market routes, open to local and international project developers, and support opportunities for economic diversification.

JETIP also includes a package of comprehensive institutional support for the North Macedonia authorities to develop and implement a just transition plan and activities to support affected workers, a competitive tender process as Contracts for Difference for renewable energy capacity, a programme of technical and commercial support for the rollout and absorption of renewable energy capacity in the grid infrastructure and programme implementation.

JETIP's implementation until 2030 is expected to mobilise around EUR 3 billion of public and private finance, including IFI loans as well as grants and concessional finance. JETIP will be implemented in accordance with the Joint-Declaration ("JD") that was signed at COP28 and through a governance structure, established for the purpose of this initiative in line with the Just Transition Roadmap of North Macedonia.

The EBRD's response to enable the investments under programme and tackle financial and institutional bottlenecks includes a proposal to create the JETIP Technical Support Unit ("TSU"), part of the broader JETIP governance structure, which will serve as the operational backbone of the platform, supporting the strategic, technical and administrative coordination required to achieve JETIP's objectives. The JETIP's TSU will focus on building a strong cooperation framework to facilitate the implementation of the JETIP initiative in accordance with the JD. Their activity will be conducted in line with the governance structure and rules of the Programme. The TSU will be responsible to support identifying the scope of key technical assistance assignment, oversee the implementation, as well as coordinate and assist Partners as required in mobilising their financial support through projects. The TSU will support the government, represented by the MEMMR and the governance structure of JETIP, including the Just Transition ("JT") Council, working groups and regional forums.

The objective of the TSU is to facilitate the implementation of the JETIP on a day-to-day basis. The TSU should ensure effective coordination among stakeholders for a success just energy transition, support strategic and operational objectives.

Its core objectives are:

Facilitate JETIP's implementation by supporting the day-to-day implementation of JETIP activities;
Develop and maintain a Technical Assistance and investment projects pipeline with Government and Partners' inputs. Pipeline should be aligned with JETIP's decarbonisation objectives, job creation for economic diversification and social equity objectives;
Support liaising as required among government ministries, development partners, private sector actors, and civil society for effective collaboration;
Ensure effective monitoring and reporting through tracking progress and impact across all JETIP workstreams, providing transparent updates to stakeholders and maintain alignment with JETIP objectives.

The TSU shall not act as a Trust Fund and therefore has no authority to administer or conduct financial transactions.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Investment information not provided at the time of disclosure.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No project contacts provided at the time of disclosure.

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html