Skopje, 25 January 2000
Press release of the NBRM
THE PRESIDENT OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT VISITED THE NATIONAL BANK OF THE REPUBLIC OF MACEDONIA
On January 25, 2000, the Governor of the National Bank of the Republic of Macedonia, Mr. Ljube Trpeski had a meeting with the President of the European Bank for Reconstruction and Development, Mr. Horst Koechler. At the meeting, Governor Trpeski and President Koechler exchanged views on the macroeconomic developments in the Republic of Macedonia and the presence of the European Bank for Reconstruction and Development in the Republic of Macedonia. With respect to the macroeconomic developments, President Koechler expressed his respect for the achieved macroeconomic stability in the Republic of Macedonia, especially emphasizing the stability of the prices and the exchange rate.
At the meeting, President Koechler presented the strategy of EBRD for the Republic of Macedonia, which focuses on three main points: private sector development, strengthening of the financial sector and investment in key projects from the area of infrastructure. It was concluded that by the end of 1999, European Bank for Reconstruction and Development has invested in 12 projects in the Republic of Macedonia in total amount of Euro 172,4 million, of which seven projects are in the private sector.
In the domain of small-scale and middle-scale enterprises, President Koechler promoted the idea for establishing a bank which will focus on financing the micro business in the Republic of Macedonia. Governor Trpeski supported this initiative and proposed it to be realized in cooperation with the affiliation of the World Bank in charge of private sector development - the International Financial Corporation (IFC), having in mind that this institution has already proposed the realization of such idea. In the domain of the financial sector, Governor Trpeski supported the proposal of EBRD to improve the competitiveness in the financial sector by creating more diversified legal framework, which, besides establishing various financial institutions (investment and mutual funds), will enable to increase the scope of operations of the existing financial institutions in the areas of leasing and insurance. Governor Trpeski emphasized that he expects the competitiveness in the banking sector to improve on two basis: through mergers and acquisitions of domestic banks and through admitting foreign strategic investors. These two processes should lead to a wider range of cheaper financial services.
The President of the EBRD and the Governor of the NBRM agreed that the high level of cooperation between these two institutions should continue throughout 2000, when the Republic of Macedonia should expect visits of specialized teams of the EBRD in the domain of finance and financing the development of small-scale and middle-scale enterprises.
Governor’s Office
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