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EBRD to back Albania's SMEs with loans through Procredit, OTP

Nov 24, 2022, 3:44:39 PMArticle by Dragana Petrushevska
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November 24 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it will back small and medium-sized enterprises (SMEs) in Albania with 8 million euro ($8.3 million) in loans provided through the local units of Germany's Procredit Bank and Hungary's OTP Bank.

EBRD to back Albania's SMEs with loans through Procredit, OTP
Photo: EBRD

SMEs will be able to apply for funds to invest in new equipment and upgrades that can help them boost their productivity, cut operational costs, increase energy efficiency and improve their alignment with EU standards, the EBRD said in a statement.

In addition to loans, SMEs will benefit from grant incentives worth up to 15% of the total loan amount, funded by the EU.

The loan is provided under the EBRD's SME Competitiveness Support Programme.

($ = 0.960446 euro)

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