OTP Bank Albania signs financing agreement with EBRD

OTP Bank Albania signs financing agreement with EBRD

Following the development strategy of OTP Bank Albania, we are pleased to inform you that on December 10th, 2020 a significant agreement was signed between our bank (OTP Bank Albania) and EBRD (European Bank for Reconstruction and Development).

This new agreement brings the approval of the EUR 5 million fund by EBRD in order to improve the competition between small and medium enterprises (SMEs) in Albania, after the impact caused by the pandemic on the economy of our country and the region.

The programme is part of a wider EBRD-EU initiative to support SMEs across the Western Balkans. Enterprises can benefit from loans to invest in the upgrade of production facilities and equipment or to meet EU standards in product quality, safety and similar areas to become more resilient and competitive in local and external markets. SMEs can receive tailor-made technical assistance to prepare projects, as well as grant incentives on successful completion of projects, which are funded by the European Union.

“We are very pleased to launch the SME Competitiveness Programme in Albania and to welcome OTP Bank on board. Following the successful roll-out in other countries of the region, we are confident that the programme will also help small businesses in Albania to improve their performance and introduce EU standards so that they will compete better in external markets” said Mr. Matteo Colangeli, EBRD Associate Director, Head of Albania.

“The support of SME entrepreneurs in our country has been, is and will continue to be a strategic choice of OTP Bank Albania. When Programs, like the one we are launching today with the support of EBRD arise as opportunities, our commitment to bring them to life is maximal. We have always believed that the potential of Albanian entrepreneurship in the SMEs segment is immense and the opportunity to become competitive in foreign markets is not lacking now. It is this aspect that aims to enhance and facilitate the Competition Program among SMEs that was formalized today” said Mr. Bledar Shella, Chief Executive Officer of OTP Bank Albania.

We remain confident that this agreement will be another cornerstone in providing even better service to our bank customers and to meet the needs for the development of their business.