Phoinike

Main Menu

  • Albania Real Estate
  • Albania Lending
  • Albania Credit
  • Albania Economy
  • Loans

Phoinike

Header Banner

Phoinike

  • Albania Real Estate
  • Albania Lending
  • Albania Credit
  • Albania Economy
  • Loans
Albania Lending
Home›Albania Lending›EBRD and EU under €20 million risk-sharing facility with ProCredit Bank Albania

EBRD and EU under €20 million risk-sharing facility with ProCredit Bank Albania

By Blake G. Keller
April 12, 2022
0
0

TIRANA (Albania), April 12 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) has said that in collaboration with the European Union (EU) and the Albanian government, it is engaging a risk-sharing facility up to €20 million ($21.7 million) to ProCredit Bank Albania for on-lending to companies in the agro-industry and tourism sectors.

The facility includes a 10% investment grant, to be received by sub-borrowers after the completion of investments, funded by the Albanian government and the EU, the EBRD said in a statement on Monday.

In addition, the facility will also benefit from a government-backed first loss hedging mechanism, the EBRD added.

The funds will be provided through the Albania Agribusiness and Tourism Support Facility (AATSF), a framework aimed at improving access to finance for small and medium-sized enterprises (SMEs), in partnership with a number of commercial banks in Albania.

Up to €180 million has been allocated to date under the AATSF for dedicated credit lines and risk-sharing facilities through local partner banks. Since its launch in 2016, more than 70 million euros in loans have been committed, benefiting more than 6,100 local agri-food SMEs.

The EBRD also provides technical assistance to financial institutions and sub-borrowers participating in the AATSF through the EBRD Small Business Advisory Program in Albania.

($ = 0.9209 euros)

Related posts:

  1. Trevor Lawrence will receive a signing bonus in Crypto; Mobile wallet use soars
  2. Pandemic, Online Shopping May Lower Clothing Prices This Eid
  3. Oil prices slide from six-week high as concerns over India’s demand weigh
  4. Poverty in Myanmar could double after chaos of coup, UN report says

Recent Posts

  • Albanian prosecutors announce mass arrest of gang leaders
  • 12 TikTok accounts to follow for daily STEM classes
  • What is APR? What do you want to know
  • الوكالة الوطنية للإعلام – EU foreign ministers to meet on Monday
  • Biden administration can’t ignore the Balkans when it sanctions Russia

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • January 2021
  • December 2020
  • November 2020

Categories

  • Albania Credit
  • Albania Economy
  • Albania Lending
  • Albania Real Estate
  • Loans
  • Terms and Conditions
  • Privacy Policy