PRESS RELEASE
Governor Sejko: Address at the signing Ceremony of the Memorandum of Understanding of the EBRD with ProCredit Bank Albania under the Albanian Agribusiness and Tourism Support Facility (AATSF)

Honourable Madame President of the EBRD,

Honourable Madame Ministers,

Dear Representative of the European Union Delegation

Dear ProCredit Bank representatives,

Dear friends and colleagues,

The Bank of Albania has the pleasure to open its doors on the occasion of signing the Memorandum of Understanding of the European Bank for Reconstruction and Development (EBRD) with ProCredit Bank, on the commitment of risk-sharing facility under the Albanian Agribusiness and Tourism Support Facility (AATSF).

The EBRD, the EU and the Government of Albania in partnership with the financial sector, are enhancing the financing access to companies operating in the agribusiness and tourism sectors, while addressing one of the main challenges for their development.

We all are aware on the financing difficulties to companies operating in both agribusiness and tourism fields, which are mostly organised as small and medium-sized enterprises. Also, we are aware on the huge potential these companies have as creators of value, employment promoters and an innovation source. All these are important ingredients for a successful recipe to the sustainable economic growth of Albania.

In this view, I see the commitment of these programmes very important and fruitful, which provide available funds, in addition to fostering the capacity of the banking sector to analyse, assess and further to finance. The guarantee and risk-sharing facilities ease the burden on banks in terms of risk, in support of paving the way towards stable financing to these sectors.

I have already said earlier that both the real sector and banking industry should consider every effort to increase access to financing as a joint possibility for growth. To this end, I will continue to encourage banking industry for a larger, though prudential commitment, across potential sectors of Albania.

Today, the signing of this Agreement is a step ahead in this regard. The EBRD is committing up to EUR 100 million for financing and risk sharing facilities which will enable an additional investment of EUR 80 million from the participating financial institutions. On the other hand, the Albanian government has committed up to EUR 36 million to support this programme by covering risk of losses for the first three years. Since the launch of the programme in 2016, more than 6.100 small and medium-sized enterprises operating in agribusiness field have benefited EUR 70 million in loans.

I avail this opportunity to thank particularly our international partners, the EBRD and the EU, for their concrete support with financial investments in vital fields of economy. Thanks to this support we are able to achieve a sustainable growth and build on a real change in the life of people.