North Macedonia Focuses on Energy Investments with IFC Support

North Macedonia is prioritizing investments in the energy sector and the transition to renewable energy sources, aligning with the country's green agenda. Minister Bozhinovska emphasized to IFC representatives the importance of projects aimed at enhancing energy efficiency and developing renewable energy sources. The government is dedicated to reducing reliance on fossil fuels. IFC representatives expressed readiness to support these initiatives, particularly in financing projects related to energy efficiency, renewable energy, and decarbonization. Minister Bozhinovska highlighted the significance of collaboration with international financial institutions like the IFC in the energy transition process, expecting that joint efforts will contribute to the achievement of strategic goals in the energy sector. "The green transition offers significant potential through increased support from the International Finance Corporation (IFC), a member of the World Bank Group, which actively supports energy transition in the Western Balkans through various initiatives and projects and has a significant role in mobilizing capital for investments in renewable energy and energy efficiency," as stated in a press release from the Ministry of Economy.