The Tirana office of Wolf Theiss has advised the European Investment Fund on its EUR 25 million loan to Albania's Alpha Bank.
According to WT, the financing, which is part of the EU’s COSME Loan Guarantee Facility program supporting the access of SMEs to financing, is designed to assist Albanian SMEs. It is the first COSME program agreement in Albania.
According to the firm, under the terms of 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 program for guarantees.”
It is expected that approximately 200 businesses will benefit from new financing, with reduced collateral requirements at more favorable conditions. WT reports that Albania is now the 32nd country where small- and medium-sized companies can access debt finance guaranteed by the EU.
The WT team consisted of Tirana-based Partner Sokol Nako and Associate Kristaq Profkola.