The European Bank for Reconstruction and Development (EBRD) is boosting Albania’s financial sector with a financial package of up to €10 million for Tirana Bank.
This project marks the EBRD’s first partnership with Tirana Bank and includes both green financing and trade finance facilities aimed at empowering local businesses and enhancing regional trade:
- A €5 million senior loan to Tirana Bank under the EBRD’s SME Reboot Programme to support green investments in micro, small and medium-sized enterprises (MSMEs) in Albania. The project will boost investment in better-performing green technologies and services. It will encourage local firms to go beyond business as usual, increasing their competitiveness in the regional market and making them compliant with European Union (EU) and other international standards. Local MSMEs will receive cash back of up to 10 per cent of the loan amount to make their investments more affordable. These grant incentives for the programme will be supported by Luxembourg, Norway, Switzerland and the United States of America through the EBRD’s Small Business Impact Fund, and by Denmark.
- A trade finance limit of up to €5 million to Tirana Bank under the EBRD’s Trade Facilitation Programme (TFP). The TFP promotes and facilitates international trade between the economies where the Bank invests and with other economies, through a range of products. Under the facility, guarantees are provided to international confirming banks to cover the risks of transactions undertaken by Tirana Bank. The programme also offers short-term loans to support pre-shipment and post-shipment finance, as well as providing other working-capital finance necessary for foreign trade. The facility will enable Tirana Bank to expand its trade finance operations, strengthen its correspondent banking network and promote intra-regional trade. It is further complemented by technical cooperation aimed at enhancing the bank’s trade finance capabilities, product offering and institutional expertise.
Charlotte Ruhe, EBRD Managing Director, Central and South-Eastern Europe, said: “We are pleased to begin our partnership with Tirana Bank to expand access to green finance and trade support in Albania. This collaboration is important for fostering sustainable growth, enhancing regional competitiveness and helping local businesses align with international standards. By combining financial tools with technical assistance, we are unlocking new opportunities for innovation and resilience in Albania’s private sector.”
Dritan Mustafa, CEO of Tirana Bank, commented: “We are proud to partner with the EBRD for two impactful initiatives which serve as testament to our long-term vision of empowering Albanian businesses. The SME Reboot Programme loan helps small businesses invest in green technologies, while the trade finance facility strengthens our ability to support cross-border trade. These programmes reflect our commitment to driving inclusive, sustainable growth and positioning Tirana Bank as a catalyst for innovation and competitiveness in the Albanian market.”
