CDP Backing SMEs and Sustainable Growth in Albania

 

 

 

 

Intesa Sanpaolo Bank Albania and Cassa Depositi e Prestiti (CDP) have inked a substantial long-term financing deal valued at €10 million, facilitating the mobilization of resources totaling a minimum of €20 million. The primary objective is to bolster the expansion of Albanian Small and Medium-sized Enterprises (SMEs) in sectors characterized by a significant Environmental, Social, and Governance (ESG) impact, leveraging favorable financing rates.

Delving into specifics, the agreement is tailored to benefit Albanian SMEs exploring opportunities in the realms of:

  • Green economy
  • Social entrepreneurship
  • Sustainable agriculture
  • Circular economy
  • Ecotourism

The funds, allocated under the Western Balkans Investment Framework initiative, will provide support to at least 50 local businesses. This initiative not only generates new employment opportunities but also contributes to achieving five Sustainable Development Goals (SDGs) outlined by the United Nations.

Furthermore, this collaboration opens avenues for Italian enterprises keen on tapping into the potential presented by Albania and the wider Western Balkans region, fostering stronger economic bonds between Albania and Italy.

"I am confident that our collaboration with CDP in Albania will further activate new opportunities and synergies within the solid strategic relationship between Intesa Sanpaolo and the network of Italian institutions such as CDP, SACE, and SIMEST, all working to support the internationalization of Italian businesses and the development of local economies."

  • Marco Elio Rottigni, Chief International Subsidiary Banks Division, Intesa Sanpaolo

This agreement closely follows a similar one in Serbia with CDP and is part of a multi-tranche program slated to extend to other countries where Intesa Sanpaolo operates.

Italy maintains its position as Albania's foremost trade partner and foreign investor, boasting 2,500 companies (Italian and joint Italian ventures) directly employing 50,000 individuals. Intesa Sanpaolo Bank Albania, a subsidiary of the Intesa Sanpaolo Group and a prominent player in the Albanian banking sector, stands as the exclusive Italian bank operating in Albania.