BSTDB and NOA Strengthen Partnership with New EUR 7 Million MSME Facility
Supporting Sustainable Growth and Financial Inclusion for Albanian Businesses
The Black Sea Trade and Development Bank (BSTDB) has signed a new EUR 7 million Micro-, Small- and Medium-sized Enterprise (MSME) facility with NOA Sh.A., a leading microfinance institution in Albania. This funding injection will be on-lent to private enterprises, farmers and retail customers across the country.
BSTDB’s support of financial intermediation continues to focus on non-bank financial institutions, recognizing their crucial role in fostering economic development. This EUR 7 million facility represents the third MSME facility provided by BSTDB to NOA, underlining the strong and productive relationship between the two institutions. The previous two facilities supported over 430 local businesses and individuals, showcasing the significant impact of this partnership.
Dr. Serhat Köksal, President of BSTDB, expressed his satifaction for the continued collaboration: “Supporting the development of micro and small businesses remains a core priority for BSTDB. We are delighted to deepen our partnership with NOA, which has proven to be an invaluable and trusted partner since 2018. This new facility will empower small entrepreneurs and further bolster the economic resilience and growth of Albanian enterprises, particularly in these challenging times.”
Ms. Herjola Spahiu, CEO of NOA sha, proudly confirmed the importance of such collaboration for the country and stated: “It is only due to impactful partnerships like the one with BSTDB that NOA has been able to provide continuous financial support to micro enterprises, farmers and individuals in Albania during 25 years of operations. In this anniversary and under the #HumanFinance slogan, we remain loyal to our initial mission: “Reduce financial gap by inclusion and non-discrimination of any person or business”, and we’re going beyond that and widely openning the doors to women, youth and other vulnerable social communities in the region.”
Through this enhanced cooperation, BSTDB and NOA reaffirm their commitment to fostering sustainable economic development, promoting new employment opportunities, and income generation, thus contributing to the broader economic stability and growth of the Albanian real economy.
Established in 1998,NOA sh.a.is one of the largest microfinance institutions in Albania. Its customers are served by more that 320 employees, through a national network of 26 branches, covering almost 90% of the country. The company provides its financial products through mobile and digital solutions, increasing the rapidity and reach for its customers.
The Black Sea Trade and Development Bank (BSTDB)is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visitwww.bstdb.org.
Contact:
Haroula Christodoulou
Phone: +30 2310 290533
: @BSTDB
