Early Warning System

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

Proposed

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

ProCredit Bank AD Skopje

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

Sectors

Finance
Industry and Trade

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

Investment Type(s)

Guarantee

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

Investment Amount (USD)

$ 28.93 million

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.
Currency conversion note:
Bank reported 25
Converted using 2025-10-30 exchange rate.

Project Cost (USD)

$ 57.86 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 2, 2025

Disclosed by Bank Oct 30, 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.

According to the Bank’s website, the project consists of a Portfolio Risk Sharing ("PRS") in the form of an unfunded financial guarantee of up to EUR25 million EBRD's exposure that will cover the credit risk of up to 50 per cent of the aggregate amount of a granular portfolio of newly issued eligible MSME loans of up to EUR50 million originated by PCBM, denominated in EUR and MKD.

The proposed project is the first pilot PRS transaction in North Macedonia that aims to broaden spectrum of EBRD products on the market with a new and effective solution that is designed to de-risk PFIs and address the MSME financing gaps by particularly focusing on working capital and overdraft loans in the Micro, Small and Medium Enterprises ("MSME") segment.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised FI (ESP 2019). ProCredit Bank AD Skopje is an existing client with satisfactory environmental and social (E&S) performance under its current exposures. The proceeds of the Bank will be used to guarantee the MSME portfolio of PCBM in line with the eligibility criteria in the Policy Statement and 30% of the proceeds will be on-lent for green projects complying with the EBRD GET eligibility criteria. The subprojects are expected to carry low-to-medium E&S risk, primarily associated with the client's capacity to implement its Environmental and Social Management System (ESMS), potential impacts arising from the financed subloans, and related supply chain risks.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

A Portfolio Risk Sharing ("PRS") in the form of an unfunded financial guarantee of up to EUR25 million EBRD's exposure that will cover the credit risk of up to 50 per cent of the aggregate amount of a granular portfolio of newly issued eligible MSME loans of up to EUR50 million originated by the client.

Financial Intermediary

A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

ProCredit Bank a.d. (Financial Intermediary)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

ProCredit Bank AD Skopje ("PCBM") is a universal commercial bank, the 6th largest bank on the market with 6.2% market share in terms of assets at end-Q2 2025.

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.

Milan Damchevski
milan.damcevski@procredit-group.com
+389 02 2446 000
www.pcb.mk
Manapo 7 1000 Skopje Republic of North Macedonia

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