3 million euro loan to Fondi Besa

TIRANA, Nov. 25 – The EBRD is supporting the development of private micro, small and medium enterprises (MSMEs) in Albania with a euro 3 million loan to Fondi Besa, the country’s third largest non-bank microfinance institution.
Established in 1994, Fondi Besa is a leading non-bank microfinance institution in Albania, servicing about 18,000 clients. It focuses primarily on micro and small enterprises in the country’s urban and semi-urban areas.
The EBRD facility will be used to finance investment projects and working capital needs of MSMEs in Albania. The credit line will help Fondi Besa to diversify its funding base and will support the company in its drive to provide more affordable financing tools to small entrepreneurs.
“This is the EBRD’s first loan to a non-bank financial institution in Albania. The facility will provide needed long term funding to Fondi Besa, allowing it to grow its loan book and increase financial intermediation to MSMEs in the region,” said Fabio Serri, Head of the EBRD Office in Tirana.
“We are looking forward to working with EBRD to help expand the small business sector in the coming years,” said Bajram Mu袪, Executive Director, Fondi Besa.
The facility will be provided under the EBRD – Italy Local Enterprise Facility, aiming at broadening the outreach of financial institutions towards smaller business clients and micro enterprise in particular.
Since the beginning of its operations in Albania, the EBRD has invested over 550 million euros in various sectors of the country’s economy, mobilising additional investments of more than 1 billion euros.