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EBRD signs EUR 30 mln risk-sharing agreement with Albania’s Union Bank

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photo by Adriana Iacob/Shutterstock.com

The European Bank for Reconstruction and Development (EBRD) said on Thursday that it has signed a EUR 30 million agreement with Albania’s Union Bank to risk-share lending to local businesses.

Union Bank branch in Tirana, Albania. Photo by Adriana Iacob/Shutterstock.com

EBRD will be able to risk-share Union Bank’s corporate and small- and medium-sized enterprise loan exposures, it said in a statement.

Union Bank is the third bank in Albania to join the EBRD’s Risk Sharing Framework. The agreement will support Union Bank’s strategy to achieve sustainable growth and allow it to lend more to SMEs, both meeting the higher financing needs of its selected clients and keeping its risk-weighted assets under control, the EBRD said on November 7. 

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