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.
Officials from oil distribution company Gulf Albania are under investigation for money laundering, media in Tirana reported on April 22. The owner of the group is Alexandre Gogokhia, a ... more
Albanian Defense Minister Olta Xhacka said that Tirana wants more investments by the US military industry in Albania, after a US company launched work on the installation of the Integrated ... more
Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more