A Special Treat: Delivering Smiles and Going Green amid COVID-19
Small businesses in North Macedonia struggled to make ends meet during the COVID-19 pandemic lockdowns. As the country opened, companies looked to green their business operations and relied on banks, like ProCredit Bank, for financial support.
In February 2021, MIGA issued $267.5 million in guarantees to ProCredit Bank to expand its green finance capabilities across its subsidiaries in 8 countries in Eastern Europe, including North Macedonia.
“Specijal”, an artisanal bakery in Skopje, had to cut production since the demand for its bread and pastries declined due to the pandemic. But, with ProCredit Bank’s support, it not only managed to weather the crisis, but also adopted solar energy to power its facilities, reduce electricity expenses, and cut greenhouse gas emissions.