3 million euros loan from EBRD to Albania in support of SMEs
The European Bank for Reconstruction and Development (EBRD) has announced a new financing of 3 million euros loan for Small and Medium Entreprises in Albania. The loan will be granted to the local bank Pro Credit, while the European Union will provide 450,000 euros incentive grants to support local entreprise's investments in sustainable technology and energy efficiency.
The financing is part of the broader EU/EBRD SME Competitiveness Support Programme to increase the capability of SMEs in the Western Balkans to access and face competition in the European Union's market, by supporting the implementation of the EU standards in the fields of environmental protection, occupational health and safety and product quality safety. While the prospect of EU membership presents many positive opportunities for the country, progress with the adoption of the acquis communautaire will involve significant regulatory changes, giving rise to a large investment burden for enterprises to comply with the new standards.
As business costs are rising, due to inflatio