The European Bank for Reconstruction and Development (EBRD) announced on July 19 that it approved two senior unsecured loans for Intesa Sanpaolo Bank Albania in total amount of up to €4mn.
EBRD said it had approved a loan of up to €3mn in two tranches to the Albanian unit of Intesa Sanpaolo banking group under the Western Balkans GEFF III - REpower Residential Framework. The second tranche will be uncommitted.
The loan is intended to make available financing for investments in high-performance energy efficiency technologies, materials and solutions undertaken in or in relation to privately owned residential dwellings.
EBRD will also provide a loan of up to €1mn in one tranche to Intesa Sanpaolo Bank Albania under the Western Balkans Youth in Business Programme.
The loan proceeds will be used for on-lending to eligible micro and small-sized enterprises (MSEs) whose overall operational management responsibility or majority ownership is held by a person under the age of 35 in Albania.
Intesa Sanpaolo Bank Albania is the fourth largest bank in Albania, out of 11 banks, with a market share of 10.6% by total assets as at the end of 2022. It has 35 branches and employs 701 staff.
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