ALB/ €10 MILLION IN LOANS PROVIDED FOR ON-LENDING TO ALBANIA'S SME'S

www.balkans.com The EBRD is providing Albania’s Credins Bank Sh.A. with €10 million in loans for on-lending to local small and medium-sized enterprises and supporting trade finance solutions for clients of the bank.
The SME credit line will be worth a total of €8 million and will assist Credins Bank grow its SME portfolio as part of the bank’s efforts to diversify its loan book. At the same time the loan will benefit local SMEs for which access to finance remains scarce.. Although the SME sector in Albania isis estimated to account for 99% of total business registrations, the SME share of the total credit to the economy is only estimated at 25% (including microcredit).
The remaining €2 million will be provided under a separate credit line designated to finance trade activities of Credins Bank clients. In order to promote capacity building the programme will also include staff training in documentary business provided by Technical Cooperation Funds.

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