US$ 25.49 million
Total Project Cost
US$ 16.19 million
Total IFAD financing
IFAD began working in the Republic of North Macedonia in 1996.
To date, IFAD has supported two programmes in the country for a total of US$28.4 million, reaching about 29,200 rural households.
IFAD does not currently have active operations in the Republic of North Macedonia.
Projects and Programmes
Refinancing facilities: IFAD introduces an innovation in rural finance development
IFAD uses highly concessional loans in an innovative way in the Republic of Macedonia, the Republic of Armenia and the Republic of Moldova. Low-cost refinancing capital makes rural investments attractive and profitable for formal financial institutions and reduces rural poverty by stimulating economic growth.
In the past seven years, IFAD has successfully used refinancing facilities in economies in transition to stimulate investments on farms and in rural processing companies. The facilities have refinanced projects for a total value of over US$50 million in the Republic of Moldova, the Republic of Macedonia and the Republic of Armenia, with an excellent recovery performance. Refinancing operations have proved to be a viable alternative to established modes of financing rural investments through lines of credit and microfinance. And they have encouraged financial institutions to expand their rural networks and start investing in agro-projects from their own funds.