The European Bank for Reconstruction and Development (EBRD) has approved a senior unsecured loan of up to EUR 6 million to ProCredit Bank Albania (PCBA) under the Sustainable Reboot SME Programme (Reboot SME). This initiative aims to provide sub-loans to small and medium-sized enterprises (SMEs) in Albania, enhancing their competitiveness and compliance with EU and international standards.
The loan will support investments in green technologies, with at least 70% allocated to GET (Green Economy Transition) eligible technologies. This move aligns with the Programme’s goals of driving an environmentally sustainable, lower-carbon, and climate-resilient economy.
PCBA, a subsidiary of ProCredit Holding, is a key player in SME lending, green finance, and digitalisation in Albania, holding a 2.3% market share in total assets as of the end of the third quarter of 2023. This project will also provide technical support and investment incentives, promoting green investments to improve SMEs’ competitiveness.
The project is categorized as FI (Financial Intermediary) under the EBRD’s Environmental and Social Policy, requiring PCBA to comply with specific performance requirements and submit annual reports to the Bank.
Technical cooperation and grant financing will assist with the Programme’s implementation, marketing, and monitoring, ensuring that the investments meet the necessary technical standards. The funding sources include the EBRD’s Shareholders’ Special Fund, Denmark, SECO, Norway, Luxemburg, and the US.
The project, approved on 9 July 2024, will significantly impact Albania’s SME sector, fostering a competitive and green transition in line with EBRD’s objectives.
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