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Improving national capacity on renewable energy and energy efficiency technologies for small and medium enterprises and households in North Macedonia

green finance

UNECE is implementing extrabudgetary project “Improving national capacity on renewable energy and energy efficiency technologies for small and medium enterprises (SMEs) and households in North Macedonia”. This project is UNECE component of Green Finance Facility to improve air quality and combat climate change in North Macedonia project.  The project aims to improve national capacity on renewable energy and energy efficiency technologies for SMEs and households in North Macedonia.

This project is part of a Joint Programme funded by the UN Joint SDG Fund. This Joint Programme is implemented jointly by UNECE with UNDP (lead agency) and IOM under the overall coordination of the Resident Coordinator Office in North Macedonia.  

Local financial institutions have limited interest in providing lending products for the acquisition of RE and EE solutions. This is due to a combination of factors including what is seen as a limited consumer demand, a lack of knowledge about the risk and return scenarios, and limited knowledge about the technical/engineering options and details of designing and installing renewable energy and energy efficiency solutions by both banks and borrowers. 

The project contributes to overcoming the barriers including enabling and triggering the unlocking of private capital for investments in renewable energy and energy efficiency solutions. 

With the support from the Joint SDG Fund, this Joint Programme will set up and operationalize Green Financing Facility, a new financial vehicle, that will provide access to affordable green financing for SMEs and marketable but underserved target groups of individuals/ households for investments in RE and EE solutions. The GFF-enabled accelerated adoption of RE and EE solutions will contribute to the reduction of greenhouse gas emissions and air pollution and strengthen the local ecosystem for RE and EE green finance. 

UNECE is providing technical assistance and in charge of designing and implementing trainings that will be tailored to support the consultancy companies in using the updated list of eligible technologies to monitor and verify the projects’ performance (planned vs. actual).