Skopje, North Macedonia, June 21, 2019—IFC,
a member of the World Bank Group, and the Government of North Macedonia
signed an agreement today to carry out a preliminary assessment of the
Čebren Hydro Power Plant (HPP) Project. As part of this assessment, IFC
will assess the Project’s value for the energy systems of the country
and the region. Čebren HPP Project has the potential to provide North
Macedonia with clean, renewable energy and allow the county to reduce its
reliance on coal, which now powers most of its homes and businesses. Furthermore,
the Project has the potential to provide valuable energy systems services
to North Macedonia and other countries in the region.
“Čebren is key to the future of North Macedonia,”
said Kocho Angjushev, Deputy Prime Minister in charge of economic affairs.
“It would help our country combat climate change while providing the energy
that our growing economy so urgently needs.”
“North Macedonia has good potential when
it comes to generating clean hydro power-based electricity” said Georgina
Baker, IFC Vice President for Europe, Central Asia, Latin America and the
Caribbean. “We look forward to working with the North Macedonia Government
and other development partners to undertake an assessment of the Čebren
hydro power project, which is a key initiative to enhance the country’s
future energy security.”
This cooperation is part of a larger effort
by IFC to support the development of North Macedonia’s private sector.
Since 2001, IFC has invested nearly $400 million in the country, helping
to create jobs, improve telecom services, and bolster the local pharmaceutical
industry. IFC also has an active advisory services program which is helping
to improve the country’s business environment.
IFC—a sister organization of the World Bank
and member of the World Bank Group—is the largest global development institution
focused on the private sector in emerging markets. We work with more than
2,000 businesses worldwide, using our capital, expertise, and influence
to create markets and opportunities in the toughest areas of the world.
In fiscal year 2018, we delivered more than $23 billion in long-term financing
for developing countries, leveraging the power of the private sector to
end extreme poverty and boost shared prosperity. For more information,