Wolf Theiss Tirana advised European Investment Fund (“EIF”) in a 25 million-euro agreement with Alpha Bank

Tirana, 11 July 2019 – Wolf Theiss Tirana’s Partner Sokol Nako and Associate Kristaq Profkola advised the European Investment Fund (EIF) in a 25 million-euro agreement with Alpha Bank Albania for the financing of Albanian SMEs, as part of the EU’s COSME Loan Guarantee Facility programme that supports the access of SMEs to financing. It is the first COSME programme agreement to be signed in Albania.

Based on the agreement, Alpha Bank Albania will grant loans to Albanian SMEs having limited available collateral, with the support of EIF’s funds under the EU’s COSME programme for guarantees. It is expected that approximately 200 businesses will benefit from new financing, with reduced collateral requirements, at more favourable conditions.

Albania is now the 32nd country where small and medium companies can have access to debt finance guaranteed by the EU. Overall, COSME loan guarantees provide over 25 billion euros of financing to more than 450,000 European SMEs.