BSTDB Strengthens Partnership with Fondi Besa in Albania
Funds to Enhance Access to Finance for Micro and Small Businesses

20 November 2024- Micro and small businesses in Albania, including those in agricultural, service related and manufacturing sectors, are poised to benefit from a new EUR 7 million MSME Facility provided by the Black Sea Trade and Development Bank (BSTDB) to Fondi Besa. This marks the fifth such partnership between BSTDB and Fondi Besa aimed at widening financial access for Micro and SMEs and fostering entrepreneurship, crucial for Albania’s economic growth.

Specialising in MSME lending and with an extensive presence across the country, Fondi Besa has successfully utilized previous BSTDB facilities since 2014. These collaborations have significantly bolstered the country’s small business sector, which is considered the backbone of the Albanian economy. In total, BSTDB has channeled over EUR 27 million, benefiting nearly 12,000 entrepreneurs.

“Reaffirming our longstanding collaboration with Fondi Besa illustrates our unwavering commitment to supporting Albania’s MSMEs, enhancing financial inclusivity, and empowering economic growth in the country. Microfinance is a powerful tool for fostering balanced growth by enabling financial support for small and medium businesses, which are essential drivers of long-term economic progress.”, said BSTDB President, Dr. Serhat Köksal.

Prof. Assoc. Dr. Bajram Muçaj, Executive Director of Fondi BESA, emphasized the significance of renewing the agreement with the Black Sea Trade and Development Bank, highlighting its alignment with the institution’s mission of empowering micro and small enterprises. He noted:

“We are very pleased to renew this important collaboration with the Black Sea Trade and Development Bank, further strengthening the foundation of our partnership. This renewal represents a continued commitment to supporting entrepreneurs, enabling us to expand financing options for new ventures and existing businesses aiming to grow or improve. BSTDB’s ongoing trust underscores the valued cooperation between our institutions and enhances our ability to drive positive socio-economic change for our clients and the broader community.”

 This new agreement underscores BSTDB’s strategic commitment to advancing Albania’s financial sector by fostering entrepreneurship and sustainable growth. Through Fondi BESA’s extensive branch network, present in nearly every city across the country, individuals with business ideas or existing micro-enterprises can access enhanced financial opportunities to support their ventures.

Established in 1994, Fondi Besa Sh.A is the market leader of Albanian microfinance institutions and has consolidated its activity and presence through a network of 83 offices all over Albania. The company has almost 30,000 active clients and with a loan portfolio of over EUR 130 million ranks among the top 50 employers for several years.  Its mission is to help the economic growth and poverty reduction in urban and semi-urban areas of Albania by promoting micro, small and medium sized enterprises through the creation of a self-sustainable private micro-financial Albanian fund. For more info: www.fondibesa.com

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 headquartersare 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, visit www.bstdb.org.

Contact:
Haroula Christodoulou
Phone: +30 2310 290533\

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