TIRANA (Albania), November 16 (SeeNews) – The European Bank for Reconstruction and Development (EBRD), said that together with the Albanian government, it is considering a framework operation of up to 180 million euro ($193 million) in support of the Albanian agribusiness sector.
The EBRD alone will provide 100 million euro of the total project's funding, the bank said in a press release on Friday.
The overall objective of the project is to promote and enhance access to finance for agribusinesses in Albania by addressing the financing gap as one of the main challenges for the sector's development, it added.
The project will consist of a combination of credit lines for agribusiness lending and unfunded risk sharing options for agribusiness loan portfolios of selected partner financial institutions in Albania.
It will benefit from a first loss risk cover which will be contributed by the Albanian government.
($ = 0.9300 euro)