The National Bank of the Republic of North Macedonia signed a memorandum of cooperation with the European Bank for Reconstruction and Development (EBRD) to support implementation of the Women Entrepreneurs Finance Code, a global framework aimed at reducing the gender gap in access to finance. As part of the memorandum’s activities, the central bank completed the country’s first analysis of access to finance for women-owned micro, small and medium-sized enterprises (MSMEs). Based on preliminary data at end-Q1 2025, women-owned MSMEs received 13.8% of the number of bank loans granted to MSMEs, but only 7.5% of the total value. The analysis also reported a non-performing loan ratio of 1.54% for women-owned MSMEs versus 2.76% for male-owned MSMEs, with the central bank signalling the need for deeper analysis of the drivers of the relatively low lending share and for effective solutions to strengthen financial support. The governor invited banks, savings houses and other relevant entities to join the Code and a National Coalition for its implementation, noting that four banks have already joined. The EBRD highlighted that the Code is implemented or being implemented in 30 countries, including North Macedonia, and called on financial institutions to participate in the initiative.
National Bank of the Republic of North Macedonia 2025-05-21
National Bank of the Republic of North Macedonia signs memorandum with the European Bank for Reconstruction and Development to implement the Women Entrepreneurs Finance Code
The National Bank of the Republic of North Macedonia signed a memorandum with the European Bank for Reconstruction and Development to support the Women Entrepreneurs Finance Code, aiming to reduce the gender gap in access to finance. An analysis revealed women-owned MSMEs received 13.8% of bank loans but only 7.5% of the total loan value, with a lower non-performing loan ratio compared to male-owned MSMEs. The governor urged financial entities to join, with four banks already participating.