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- Loan of up to €25 million to Viva Fresh Kosovo for acquisition of Spar Albania
- Loan provided by EBRD and ENEF II (under EU’s WBIF programme)
- Agreement signed on sidelines of EBRD’s 2025 Annual Meeting and Business Forum
The European Bank for Reconstruction and Development (EBRD) and Enterprise Expansion Fund II (ENEF II), under the European Union’s Western Balkans Investment Framework (WBIF), are supporting Viva Fresh Kosovo’s entry into the Albanian retail market.
The EBRD and ENEF II are lending a total of up to €25 million to cover part of the cost of acquiring Spar Albania. The Bank is contributing €22 million, while ENEF II is providing €3 million. This is the EBRD’s largest loan to a local company in Kosovo to date.
After acquiring Spar Albania, Viva Fresh Kosovo plans to expand, rolling out new stores, as well as refurbishing some of the existing stores.
The loan agreement was signed on the sidelines of the EBRD’s 2025 Annual Meeting and Business Forum by Zsuzsanna Hargitai, Managing Director of the EBRD’s SME Finance and Development Group, Matteo Colangeli, the EBRD’s Regional Head of the Western Balkans, Andreea Moraru, a member of ENEF II’s Board of Directors, and Xhevdet Rexhepi, the CEO and owner of Viva Fresh.
Zsuzsanna Hargitai said: “We are excited to continue supporting the growth and expansion of Viva Fresh, and the financing we are agreeing today facilitates Viva Fresh Kosovo’s entry into the Albanian retail market. As a leader in the Kosovan market in terms of modern retail, we are confident they will bring significant added value to the Albanian retail landscape. This project will further contribute to the growth and modernisation of Spar Albania and foster greater efficiency and enhanced sustainability and environmental standards.”
Xhevdet Rexhepi said: “We are grateful for this cooperation with the EBRD and ENEF II and their support for our regional expansion and integration through our entry into the neighbouring Albanian market via the acquisition of Spar Albania. We believe that the Albanian market provides very good opportunities for the growth of modern retail, and we intend to expand the network of Spar Albania stores in the country, while offering a more accessible modern retail experience to local communities and further consolidating our sustainability standards.”
Andreea Moraru said: “Today is an important milestone for Viva Fresh, but also for ENEF II, as this represents the first co-financing project between the EBRD and ENEF II in Albania. ENEF II focuses on offering tailored financing structures to high-growth companies in the Western Balkans region with embedded environmental, social and governance standards. We are pleased to support Viva Fresh’s acquisition of Spar Albania and look forward to supporting its commitment to enhanced sustainability measures.”
Viva Fresh Kosovo is a longstanding client of the EBRD, having implemented projects since 2015. As a result of those projects, Viva Fresh has been at the forefront of the expansion of organised modern retail in Kosovo, where it is a market leader.
The ENEF II fund has the following investors: the EBRD, the EU (under the WBIF programme), Italy’s Cassa Depositi e Prestiti, Banca Intesa and Germany’s Kreditanstalt für Wiederaufbau. The fund is advised by the EBRD and focuses on small and medium-sized enterprises and mid-cap companies in the Western Balkans. It has built on the successes of its predecessor, ENEF, which helped dozens of companies in the region to grow and expand their businesses.
To date, the EBRD has invested more than €2.2 billion in Albania through 162 projects and €783 million in Kosovo through 123 projects.