Skopje; Prague, March 27 (RFE/RL) - A leading private bank in
the Republic of Macedonia has received a $10 million investment
and loan package from the European Bank for Reconstruction and
The EBRD says the money is to be used to increase term lending
operations to private companies and state firms that are undergoing
EBRD President Jacques de Larosiere said Komercijalna Banka is
expected to "play a key role in advancing the transition process" in
the former Yugoslav republic. De Larosiere said the EBRD intends to
help the bank increase its offerings to private sector clients as the
country prepares for privatization and restructuring.
Komercijalna Banka is a commercial and savings bank that provides
loans and guarantees deposit facilities in local and foreign
currencies to the corporate sector. It also provides international
banking services to corporate and retail clients.
The EBRD package includes an investment of about $2.6 million
and a convertible loan of more than 7 million dollars. The EBRD will
have direct representation on Komercijalna Banka's board.