The Black Sea Trade and Development Bank (BSTDB) and BESA Fund signed a loan agreement for a new loan of EUR 5 million in support of micro and SME. This three-year loan will be used for crediting the investment and working capital needs of micro, small and medium-sized enterprises (MSMEs) in Albania, with a focus on rural areas where access to micro-SME financing is constrained.

Commenting on the signing, the BSTDB President, Ihsan Ugur Delikanli, said: “We are pleased to enhance our partnership with Fondi Besa, a reliable partner and market leader in Albania. This second agreement demonstrates BSTDB’s consistent support to the country’s economy, which by large relies on micro-businesses. Facilitating microfinance, an important mean for economic growth, will remain our strategic priority in Albania and in other countries of the Black Sea region in the years to come”.

“We are honored and pleased to be part of this cooperation and would like to express our conviction that as with the previous agreement, this cooperation will be successful and will have a great impact in the financial support of micro and small businesses and agricultural activities in Albania resulting in an economic and social development”, said Bajram Mucaj, CEO of Fondi BESA at the signing of the loan agreement.

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Established in 1994, Fondi Besa Sh.A is a leading non-bank microfinance institution in Albania. The mission of Fondi BESA is to help the economic growth and poverty reduction in urban and semi-urban areas of Albania by promoting micro, small and medium enterprise sector through the creation of a private micro-financial Albanian fund which is self-sustainable. Clients of the Fund include people from all socio-economic layers, including unemployed and start-up businesses. Fondi BESA provides all kind of lending, including consumer and mortgage loans.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, 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. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.