Prime Highlights:
- Tirana Bank secures €10 million from the EBRD to support trade finance and green technology investments for Albanian SMEs.
- The funding package will help the bank expand trade operations, strengthen banking networks, and promote sustainable growth in the region.
Key Facts:
- €5 million of the package comes from the EBRD’s Trade Facilitation Program (TFP), providing guarantees and short-term loans to support international trade.
- Local businesses can receive up to 10% of the green investment loan as cashback, with support from international partners including Denmark, Luxembourg, Norway, Switzerland, and the United States.
Key Background:
Tirana Bank will receive €10 million from the EBRD to support Albanian small and medium businesses in expanding trade and investing in green technologies.
Part of this package is a €5 million Trade Facilitation Program (TFP) loan, which will help the bank expand trade and promote business across borders. The Trade Facilitation Program (TFP) gives guarantees to international banks to reduce risks and provides short-term loans to support trade before and after shipments.
“This program will help Tirana Bank grow its trade services, improve its banking connections, and encourage trade within the region,” the EBRD said. The program is also complemented by technical assistance to enhance the bank’s trade finance capabilities, product offerings, and institutional expertise.
The second component of the package is a €5 million senior loan designed to encourage Albanian SMEs to invest in green technologies. Local businesses can get up to 10% of the loan as cashback, with support from partners like Denmark, Luxembourg, Norway, Switzerland, and the United States. The program is designed to make green investments easier and help businesses compete better in the region.
Charlotte Ruhe, EBRD’s Managing Director for Central and South-Eastern Europe, said that the partnership will support sustainable growth, make local businesses more competitive, and help them meet international standards. By providing both funding and guidance, it opens new chances for innovation and strengthens Albania’s private sector.
Tirana Bank CEO Dritan Mustafa added, “These programs reflect our commitment to driving inclusive, sustainable growth and positioning Tirana Bank as a catalyst for innovation and competitiveness in the Albanian market.”
The EBRD has also announced a €10 million loan to ProCredit Bank Albania to further strengthen SME financing in the country. Since 1991, the multilateral development bank has invested over €2.3 billion in Albania across 168 projects, targeting SMEs, women-led businesses, and initiatives that drive economic growth and innovation.
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