EBRD extends EUR 10mn to Albanian Credins Bank for SMEs lending.

By bne IntelliNews August 30, 2013

The European Bank for Reconstruction and Development (EBRD) has provided a EUR 10mn funding to Albanian Credins Bank for on-lending to small and medium-sized enterprises (SMEs) and supporting trade finance solutions for clients of the bank, the EBRD said in a statement.

The SME credit line will be worth a total of EUR 8mn and the remaining EUR 2mn will be will be provided under a separate credit line designated to finance trade activities of Credins Bank clients.

The World Bank’s investment arm, the International Finance Corporation (IFC), and the Government of Canada agreed in May to provide a EUR 10mn funding to Credins Bank to support financing of renewable energy and energy efficiency projects.

Credins Bank, which was the first privately-owned bank in Albania, ranked as the fifth largest lender in terms of assets as of end-June 2013, according to the latest data of the Albanian Association of Banks.

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