Home | Projects |

Fondi Besa

Albania | Financial Institutions

Identification Code:: OP/13/0040
Total Operation Cost:: — EUR
Maturity:: 36 months
Operation Status:: BSTDB Approved Amount – Approval Date

6.000.000 EUR – 14 Feb 2014
: BSTDB Signed Amount – Signed Date

6.000.000 EUR – 16 Apr 2014
: Status:
Completed
Description and Purpose of the Operation:: The EUR 6 million medium-term Micro/SME Finance (MSME) Facility will support FONDI BESA activities in financing eligible Micro and SMEs in Albania. By working with FONDI BESA, BSTDB will be able to reach a larger number of Micro and SMEs in Albania and contribute to the increase of the sector development in the country. Along with the institutional development of FONDI BESA, resulting in a further business growth, improved liquidity and client service, BSTDB will promote job creation, income generation, improved companies infrastructure, and positive impact on poverty alleviation.
Countries of Operation:: Albania (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: FONDI BESA SH.A.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The operation with FONDI BESA is expected to have modest but favorable economic benefits for the Albanian economy. The most relevant being additional tax revenue gains from increased economic activity. In addition, the amount provided will help further enhance benefits such as increases in employment and competitiveness, and multiplier effects for other parts of the economy. Strengthening the non-bank financial sector is also beneficial for the Albanian economy. Other BSTDB countries are important trade partners for Albania so to the extent MSMEs benefiting from financing from the operation engage in export activities, there will be regional cooperation benefits.
Environmental Classification and Impact:: FONDI BESA will be required to continue to adhere to the established internal rules and procedures for environmental and social risk assessment; remain compliant with subject national legislation in effect; observe the BSTDB Environmental and Social Exclusion List; and submit annual environmental and social performance reports.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org