Former Yugoslav Republic of Macedonia
Under the WB EDIF platform, the former Yugoslav Republic of Macedonia first received financing via the equity funds ENIF and ENEF. ENIF’s three investments are in Letz, an Artificial Intelligence (AI) powered app to boost productivity in the work place, Cognism, an end-to-end sales-acceleration solution that provides sales organizations with a more efficient way to prospect and InPlayer: the next generation video and digital asset monetization platform that works with the largest media and technology companies in the world.
ENEF made one investment into Cermant – a leading ice cream produce and other frozen goods in FYR Macedonia.
More recently FYR Macedonia has seen a speedy uptake in the absorption of the Guarantee Facility whereby EIF signed a agreement with ProCredit FYR Macedonia in 2016.
On the Support Services side:
- The EBRD’s Advice for Small Businesses (ASB) has provided advisory support to 83 projects in total, helping SMEs in FYR Macedonia to grow, enhance competitiveness and bankability. These companies also include one of those funded under ENEF, showing the advantageous synergies between the WB EDIF programmes and instrumets
- Led by the OECD, the Small Business Act (SBA) assessment supported FYR Macedonia in improving SME policy making and enhancing the capacity of its policy makers in addressing related challenges,
- A candidate for Centre of Excellence status under EIB’s study on Regional Centres of Excellence was identified in the INNOFEIT initiative of the Faculty of Electrical Engineering, Ss. Cyril and Mehodius University Skopje,
- An IP Toolkit was distributed to participants of the Workshop held in Skopje under the programme lead by EIB for support on intangible assets and intellectual property in the Western Balkans
- Under the World Bank’s EU-REPARIS programme, activities were organized on a regional basis with regular participation of the various stakeholders of FYR Macedonia.
Financing for SMEs