EBRD mulls 36 million euro loan to ESM to modernize Skopje’s district heating

The European Bank for Reconstruction and Development (EBRD) is considering a sovereign-guaranteed loan of up to 36 million euro — about 40.9 million dollars — to North Macedonia’s state electricity producer, ESM, as the economic news agency SeeNews reports.

According to SeeNews, the funds would go toward modernizing and rebuilding Skopje’s district heating network, as well as renovating the energy efficiency of ESM’s central building.

The loan is still under review — the EBRD’s final decision has not been taken. The news comes as the capital prepares for the heating season, while checks of the thermal network continue through the end of September.

The EBRD’s engagement in North Macedonia’s energy sector is expanding: earlier this month there were also reports of another 51.7 million euro package the bank is considering for transmission operator MEPSO and for ESM’s first battery energy storage system in Bitola.