Tirana Bank Credit Line

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 41844

Status Complete

Location

Albania

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 41844

Status Complete

Location

Albania

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

20 Jul 2010

Disclosure date

04 Nov 2010

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The EBRD has signed investments worth a total of €200 million with Piraeus Group subsidiaries in Bulgaria, Romania and Albania as part of a package approved in July 2010. The aim is to provide medium and long-term debt financing through Piraeus Group subsidiaries in support of SMEs and corporate organisations for investment and working capital needs.

The EBRD investments are part of the joint pledge by the EBRD, the World Bank Group and the European Investment Bank (EIB) to provide over €24.5 billion in support of the banking sectors in the region and to fund lending to businesses hit by the global crisis.

Transition Impact

The credit lines will contribute to the transition process by maintaining an essential flow of lending to enterprises at a time when the availability of credit, particularly to SMEs, has been constrained.

The Client

Three Piraeus Group subsidiaries in Bulgaria, Romania and Albania.

Piraeus Bank Group is one of the most dynamic and active financial organisations in Greece, South-eastern Europe and Eastern Mediterranean, but also has presence in the financial centres of London and New York. At the end of June 2010, the Group had a network of 878 branches and employed 13,362 people.

EBRD Finance

EUR 40 million

Project Cost

A total of EUR 200 million.

Environmental Impact

The Piraeus Group subsidiaries will be required to comply with EBRD’s Environmental Performance Requirement (“PR”) 9 when making local loans, conduct their business in accordance with PR 2, adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit Annual Environmental and Social Reports to the Bank. The subsidiary borrowers will be required to comply with applicable national environmental, health and safety and labour requirements.

Technical Cooperation

None.

Company Contact

Mr. Santixis Dimitrios – Managing Director
Tirana Bank SA
Rr Deshmoret 4 Shkurtit
Tirana 2400/1
Albania
Phone: 0035542269430

Transition impact

ETI Score:60

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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