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EBRD Provides €10 Million Co-Financing to Leading Albanian Bank
- BKT Durres
Tirana – The EBRD is extending its support for Albania’s real economy by providing €10 million in co-financing to Albania’s third largest bank, Banka Kombetare Tregtare (BKT).
This facility will enable BKT to meet the growing needs of Albanian companies for larger loans and longer maturities and allow more companies to access medium term financing”, European Bank For Reconstruction and Development said in a press release on Tuesday.
The facility is the first in Albania of a new type of EBRD instrument being made available to the Western Balkans region, the Medium-Sized Loan Co-Financing Facility (MCFF). This initiative aims to stimulate market activity by using a streamlined approach to mobilising more investment for viable private companies and encouraging economic reform, while still respecting the principles of sound banking.
The EBRD is delighted to make this co-financing available to BKT, which is one of EBRD’s long-standing partners in the country and has achieved solid growth since its privatisation in 2000, said Dan Berg, head of the EBRD’s Office in Albania.
“The co-financing facility signifies BKT’s commitment to the Albanian corporate sector. The additional lending capacity means BKT will be able to serve the growing appetite of the corporate sector for larger loans and longer maturities,” said Seyhan Pencapligil, BKT’s CEO and Board Member.
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