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EBRD, Banka Popullore support entrepreneurs in Albania
€5 million loan gives SMEs more access to longer-term finance
The EBRD is lending Banka Popullore, a private bank in Albania, €5 million to
give small and medium-sized enterprises (SMEs) more access to finance to build
or develop their businesses.
The loan falls under the Western Balkans SME Finance Facility, a €50 million
framework approved by the EBRD to finance local SMEs in Albania, Bosnia and
Herzegovina, FYR Macedonia, Kosovo, Serbia and Montenegro. This is the first
project under this Facility in Albania and the EBRD is confident that the loan
will be successful in reaching more local entrepreneurs. The loan will enable
Banka Popullore to further develop its activities with the SME clients by
offering longer maturities, facilitating the growing demand for loans of
between three and five years.
Murat Yildrian, Head of the EBRD office in Tirana, said this loan will help
Banka Popullore reach out to clients seeking more access to finance, which
will in turn support Albania’s economic growth at the grassroots level. The
EBRD is increasingly working with local banks, like Banka Popullore, across
the region. This is an important initiative that is proving extremely
successful in the Western Balkans.
Banka Popullore was established in March 2004 and has grown rapidly to become
number seven in terms of assets out of 17 banks in Albania. Moreover, the bank
has built a strong network covering the whole country with a strong focus on
the SME sector.
Behar Male, Chairman of the Supervisory Board at Bank Popullore, said our bank
is one of the fastest growing banks in the country and we are in an
institution dedicated to its customers needs. The EBRD loan is helping to
build on our strengths to further reach out to more and more clients, he added.
The EBRD is the largest investor in Albania, having committed more than €301.7
million in 22 projects.
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