Two deals signed with Banka OTP Albania during EBRD President’s visit

• EBRD supports Banka OTP Albania, earlier Societe Generale Albania, after ownership change
• €10m trade facilitation programme facility,  €50m risk sharing framework to help small firms
• Deals signed during Albania visit of EBRD President Sir Suma Chakrabarti

Albanian small businesses will benefit from better access to finance and enhanced chances in trade thanks to two agreements between the EBRD and Banka OTP Albania signed today in the presence of visiting EBRD President Sir Suma Chakrabarti.

President Chakrabarti is in Albania during a tour of the Western Balkans in preparation for the Bank’s 2019 Annual Meeting in Sarajevo next week.

An uncommitted trade facilitation programme (TFP) facility for €10 million will support small and medium-sized enterprises (SMEs) whose business is in trade, including trade with other countries in the Western Balkans region and “green TFP” trade in high-performance technologies and services.

Meanwhile, an unfunded risk-sharing framework of €50 million will make it easier for SMEs to gain access to finance, allowing OTP Albania to meet the financial needs of businesses while keeping risk-weighted assets under control.

Banka OTP Albania Sh.a, formerly known as Banka Société Générale Albania, is the fifth largest bank in Albania. It has an asset base of €677 million and a network of 38 branches. OTP Hungary bought an 88.89 per cent stake from French Société Générale in 2018 before acquiring the remaining shares from seven minority shareholders. The change of ownership was approved by Bank of Albania in March 2019.

Furthering trade integration in the regions where the EBRD works helps build company’s resilience. Risk-sharing also builds resilience by transferring skills in financial analysis, risk assessment and project management to partner banks, as well as helping SMEs grow and become more competitive by improving their access to finance. 

The EBRD has invested nearly €1.3 billion in 87 projects in Albania. It focuses on the sustainable development of the private sector, building on the strong entrepreneurial spirit in the economy, as well as on enhancing the commercialisation of infrastructure projects and promoting sustainable energy and environmentally sound investments.