G4G: RBI Albania



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

09 Jun 2022



PSD disclosed:

22 Dec 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

Provision of additional EUR 65 million of an unfunded Guarantee for Growth in local currency equivalent in favour of Raiffeisen Bank Sh.a. Albania (RBAL), a joint stock company incorporated in Albania.  This amount is in addition to EUR 100 million in local currency provided under the project in December 2020. The guarantee will have an initial tenor until end of March 2024.

Project Objectives

The guarantee covers the risk of non-payment of Albanian local currency sovereign bonds held by the client, enabling RBAL to making new sub-loans to private sector borrowers at a multiple of the guaranteed amount. At least 10% of the guarantee amount will be allocated towards Green Economy Transition (GET) eligible sub-projects.

Transition Impact

ETI score: 70

The project will continue to free up capacity for new lending in Albania to MSMEs and corporates. The project is aligned with the EBRD's dedicated technical cooperation programme with the Bank of Albania, the country's central bank, which is focused on achieving equivalence of the local prudential framework with that of banks in the European Union. The expected transition impact of the project is derived from the Resilient and Competitive TI qualities.

Client Information


RBAL is an existing client of the EBRD and the second largest bank in Albania with a 16.6% market share. RBAL offers the full range of banking products and services in the 4 key business sectors in which it operates - private individuals, micro business, small business and corporate business and serves to more the 475,000 customers in the country.

RBAL is headquartered in Tirana and operates through 76 branches in 44 cities across Albania, employs ca. 1,200 staff (YE2021) and has the largest ATM network in the country. RBAL is 100% owned by Raiffeisen Bank International AG Austria (RBI).

EBRD Finance Summary

ALL 20,147,900,000.00

EUR  165,000,000 in LCY equivalent.

Total Project Cost

ALL 20,147,900,000.00

EUR  165,000,000 in LCY equivalent.


Additionality is achieved based on several factors:

  • EBRD offers a large volume instrument filling a market gap using an innovative financing structure on commercial terms not available from other market participants.
  • EBRD's involvement in the project is designed to trigger a change in Albania's regulatory and supervisory framework for banks.
  • The project will support the commitment of a major EU banking group to the EBRD region.

Environmental and Social Summary

Categorised FI (ESP 2019). RBAL will be required to comply with EBRD's Performance Requirements 2, 4 and apply Performance Requirement 9 to the SME and corporate lending provided as part of the project. RBAL will need to implement the EBRD Environmental and Social Risk Management Procedures for Micro, SME and corporate lending and submit annual reports to the Bank. The EBRD funding supports mainly SME and corporate financing which is considered of low-medium risk from an environmental and social standpoint and the client has an environmental and social management system in place commensurate with this level of risk.

Technical Cooperation and Grant Financing

This project is closely aligned with ongoing policy dialogue under the Vienna Initiative. A dedicated TC assignment in Albania will support the convergence of regulatory and supervisory frameworks for
banks in Albania with EU standards.

Company Contact Information

Rigers Kristo
+355 4 2381 381
Raiffeisen Bank Albania "Blv."Bajram Curri", European Trade Center, 14-th floor, Tirana. Albania

PSD last updated

01 Jul 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.


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