FYR Macedonia became a member of IFC in 1993. Since then, the country has received commitments of over $93 million of IFC's own funds and more than $25 million in syndications. IFC has invested in the textile, pharmaceutical, telecommunication, glass-machine production, steel, tourism, and financial sectors. These projects have been carefully targeted to support strategic economic sectors and to maximize development impact.
IFC has been successful in attracting foreign investors for the privatization of Stopanska Banka, the largest commercial bank in the country, and also for the privatization of the Macedonian Telecommunications, the national phone company.
To support small businesses, IFC has invested in three financial institutions, including a line of credit to a local bank for lending to small and medium enterprises (SME), as well as a specialized financial institution that provides credit and other financial services on commercial terms to SMEs in FYR Macedonia.
IFC will continue to support SMEs and micro-enterprises, post-privatized export-oriented companies, and the infrastructure sector. More on investments in FYR Macedonia.
Advisory Services
In July 2005, IFC opened the new facility to provide advisory services in Southern Europe. Advisory program in the FYR Macedonia is divided in four business lines: valued addition to firms; business enabling environment; access to finance; and infrastructure advisory operations. More on advisory projects in the FYR Macedonia…
