IFC, North Macedonia to study hydro plant value

27 June 2019

World Bank Group member IFC is to assess the value of a planned hydropower plant in Macedonia as part of an agreement recently signed with the Government of North Macedonia.

The preliminary assessment on the Cebren project will assess the hydro plants value to the country and the region, including how it will help North Macedonia reduce its reliance on coal, which now powers most of its homes and businesses.

 “Cebren is key to the future of North Macedonia,” said Kocho Angjushev, Deputy Prime Minister in charge of economic affairs. “It would help our country combat climate change while providing the energy that our growing economy so urgently needs.”

 “North Macedonia has good potential when it comes to generating clean hydro power-based electricity” said Georgina Baker, IFC Vice President for Europe, Central Asia, Latin America and the Caribbean. “We look forward to working with the North Macedonia Government and other development partners to undertake an assessment of the Cebren hydro power project, which is a key initiative to enhance the country’s future energy security.”

This cooperation is part of a larger effort by IFC to support the development of North Macedonia’s private sector. Since 2001, IFC has invested nearly $400 million in the country, helping to create jobs, improve telecom services, and bolster the local pharmaceutical industry. IFC also has an active advisory services program which is helping to improve the country’s business environment. 

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