EFSE provides EUR 7 million loan to Albania's Credins Bank

Credins Bank and the European Fund for Southeast Europe (EFSE) signed the Framework Agreement on a loan of EUR 7 million.


Frankfurt am Main, July 10, 2009 – A Framework Agreement was signed between the European Fund for Southeast Europe (EFSE) and Credins Bank on a loan amounting to EUR 7 million on 27th May, 2009, in Novi Sad, Serbia. The signing of this Framework Agreement as well as individual loan agreements will serve well for the further development of the lending activity of Credins Bank, which focuses mainly on micro and small enterprises.

“We are overjoyed to have signed this Agreement, which serves as testimony for the trustworthiness and the high reputation of Credins Bank among the international financial institutions. The signing of this Agreement is of special importance, especially taking into account the current financial situation, where liquidity sources in the international financial markets are drying up”, said Mrs. Monika Milo, Deputy General Manager of Credins Bank.

“EFSE is committed to helping Albania’s financial sector promote the development and growth of micro and small businesses,” said Sylvia Wisniwski, Chief Operating Officer of EFSE. “Apart from boosting confidence in the banking sector and ensuring the continuing flow of lending to the real economy in times of crisis and scarce funding, EFSE’s financing is also expected to have a strong developmental impact as it will help create new jobs and accelerate business growth for more than 1,000 micro and small enterprises,” she added.

Credins Bank has been well known for financing the large and corporate business segment. However, in order to better diversify its loan portfolio, for the past two years it has been focusing on the on-lending of credit to small and micro businesses, in accordance with the demands on the market. The previous 6 years of activity have shown that Credins Bank has gone through a solid progress, presenting itself as a bank with high liquidity indicators, high efficiency indicators, well capitalised, with a qualitative loan portfolio and altogether very profitable. Today, Credins Bank holds a very good position in the Albanian banking market, with total assets of 41 Bio Leke, a loan portfolio of 35.6 Bio Leke and 35.6 Bio Leke in client accounts. Credins Bank is present across the whole of Albania with 32 branches and agencies.

EFSE was launched in December 2005 and represents the first public-private partnership of its kind. Established by KfW, EFSE is among the three largest microfinance investment vehicles in the world, with an investment portfolio of EUR 532 million as of end of March 2009. Aimed at fostering economic development and prosperity in Southeast Europe, EFSE offers long-term funding instruments to local financial institutions for on-lending to micro and small enterprises as well as to low-income private households. The Fund exhibits a strong investor base of donors, international finance institutions and private institutional investors, including: European Commission, Federal German Ministry for Economic Development and Cooperation (BMZ), the governments of Austria, Switzerland and Denmark, KfW, IFC International Finance Corporation, EBRD European Bank for Reconstruction and Development, FMO Netherlands Development Bank, EIB European Investment Bank, OeEB Oesterreichische Entwicklungsbank (Development Bank of Austria), German bank Sal. Oppenheim, French bank Crédit Coopératif and Deutsche Bank. In addition, the first government from Southeast Europe, the Government of the Republic of Albania, has recently joined EFSE’s family of investors. EFSE operates in Bosnia Herzegovina, Romania, Serbia, Kosovo, Montenegro, Moldova, Macedonia, Bulgaria, Ukraine and in Albania.

Media contacts

EFSE
Mr. Samir Djikić, Communications Manager
Tel: +49 (0)69 9778 7650-26
E-mail: press@efse.lu






Press releases 2014

  • Jul
    2014
    4

    EFSE supports Romanian MSEs through new partnership with Garanti Leasing

    more
  • Jun
    2014
    26

    EFSE signs EUR 18.5 million senior loan with Bank of Georgia to boost MSE finance

    more
  • Jun
    2014
    18

    EFSE supports Araratbank fostering MSE banking

    more
  • Jun
    2014
    18

    Armenian Central Bank subsidiary Small and Medium Business Credit Support CJSC increases equity investment in EFSE Armenia Local Currency Facility to support small and medium enterprises

    more
  • Jun
    2014
    18

    EFSE issues first Armenian dram loan to ACBA Bank

    more
  • Jun
    2014
    18

    EFSE Annual Meeting in Yerevan puts focus on micro and small enterprise financing

    more
  • May
    2014
    15

    EFSE provides EUR 3 million senior loan to Partner MCF in Bosnia and Herzegovina

    more
  • May
    2014
    13

    EUR 5 million loan from EFSE enhances MF banka’s long-term lending capabilities

    more
  • May
    2014
    13

    EFSE enables Mikrofin to finance over 2,000 new MSE loans

    more
  • Apr
    2014
    3

    EFSE partners with Yapı Kredi Leasing to support MSMEs in priority development regions of Turkey

    more
  • Mar
    2014
    27

    EFSE DF supports new Association of Professional Risk Managers in Bosnia and Herzegovina

    more
  • Mar
    2014
    20

    EFSE lends USD 10 million in local currency to FINCA Azerbaijan

    more
  • Feb
    2014
    11

    EFSE expands partnership with ProCredit Bank Serbia

    more
  • Jan
    2014
    29

    Komercijalna Banka a.d. Banja Luka to expand its MSE lending business

    more
  • Jan
    2014
    28

    EFSE grants AccessBank in Azerbaijan USD 15 million senior loan

    more
  • Jan
    2014
    23

    EFSE signs new partner lending institution in Serbia: Intesa Leasing Belgrade

    more
  • Jan
    2014
    21

    UniCredit Bank Serbia and EFSE sign EUR 15 million senior loan agreement

    more

Press releases 2013

  • Nov
    2013
    28

    EFSE and ACBA Leasing sign EUR 2.5 million loan agreement

    more
  • Nov
    2013
    15

    EBRD invests additional EUR 25 million in EFSE

    more
  • Oct
    2013
    24

    EFSE supports Komercijalna banka’s MSE business with EUR 20 million loan

    more
  • Oct
    2013
    23

    EFSE issues USD 10 million loan to Megabank in Ukraine

    more
  • Oct
    2013
    9

    EFSE signs USD 20 million senior loan with Bank Republic in Georgia

    more
  • Oct
    2013
    8

    EFSE supports rural finance capacity of Microinvest in Moldova with EUR 1 million loan

    more
  • Oct
    2013
    4

    EFSE expands relationship with Şekerbank in Turkey through EUR 10 million loan

    more
  • Sep
    2013
    12

    EFSE greenlights EUR 5 million loan to Inecobank to support MSE credit business in Armenia

    more
  • Jul
    2013
    9

    EFSE bolsters UniCredit Serbia’s housing and MSE finance operations

    more
  • Jun
    2013
    6

    EFSE issues EUR 10 million senior loan to Sberbank BH d.d. Sarajevo

    more
  • Jun
    2013
    6

    European Fund for Southeast Europe approves loan to MCF MI-BOSPO

    more
  • Jun
    2013
    6

    EFSE boosts Mikrofin group’s rural and MSE lending activities with credit lines totalling EUR 7 million

    more
  • Jun
    2013
    6

    Agrilending and housing top EFSE Annual Meeting 2013 agenda in Sarajevo

    more

Press releases 2012

  • Dec
    2012
    28

    EFSE and Garanti Leasing sign EUR 25 million loan agreement to support micro and small enterprises in Turkey

    more
  • Dec
    2012
    20

    EFSE expands into Croatia – first investment to boost micro and small enterprise lending

    more
  • Dec
    2012
    20

    EFSE and ProCredit Bank sign EUR 2.5 million loan agreement to support small enterprises in Bosnia and Herzegovina

    more
  • Sep
    2012
    20

    Central Bank of the Republic of Kosovo and EFSE reaffirm commitment to promote micro and small enterprise financing

    more
  • Sep
    2012
    11

    EFSE and Şekerbank sign EUR 15 million loan agreement to support micro and small enterprises in Turkey

    more
  • Sep
    2012
    6

    EFSE Workshop on the “Potential for Agricultural Finance in Ukraine”: local financial institutions and agricultural producers came together to discuss how to further unleash the high potential of agricultural finance in Ukraine

    more
  • Jul
    2012
    3

    EFSE-funded project expands: Non-profit debt counselling services for over-indebted citizens now also available in Sarajevo

    more
  • Jul
    2012
    2

    Deutsche Bank secures additional investments in EFSE microfinance fund

    more
  • Jun
    2012
    19

    EFSE and Azerbaijan Micro-Finance Association raising financial literacy in Azerbaijan

    more
  • May
    2012
    31

    EFSE Annual Meeting 2012 in Tbilisi

    more
  • May
    2012
    31

    EFSE continues to support rural finance through MCF EKI in Bosnia and Herzegovina

    more
  • May
    2012
    31

    EFSE and MF Banka in Bosnia and Herzegovina sign EUR 5.0 million MSE loan agreement

    more
  • May
    2012
    21

    EFSE and Inecobank sign loan agreement of USD 10 million to support micro and small enterprises in Armenia

    more
  • Apr
    2012
    26

    Promoting corporate governance in Moldova’s banking sector

    more
  • Feb
    2012
    16

    Partner MCF and EFSE Development Facility successfully contribute to the financial education of 100,000 citizens

    more
  • Jan
    2012
    27

    EFSE and Byblos Bank Armenia sign loan agreement to support micro and small enterprises in Armenia

    more
  • Jan
    2012
    26

    EFSE and AccessBank Azerbaijan sign loan agreement of USD 15 million to support micro and small enterprises in Azerbaijan

    more
  • Jan
    2012
    25

    EFSE signs European SRI Transparency Code

    more

Press releases 2011

  • Dec
    2011
    30

    EFSE, DEG and ABank enter into EUR 30 million subordinated loan agreement to support micro, small and medium enterprises in Turkey

    more
  • Dec
    2011
    5

    Armenian Central Bank subsidiary Small and Medium Business Credit Support CJSC invests EUR 2 million in EFSE Armenia Local Currency Facility to support small and medium enterprises

    more
  • Nov
    2011
    21

    EFSE and Banca Intesa Beograd boost financing to micro and small enterprises in Serbia

    more
  • Jun
    2011
    7

    EFSE reaffirms commitment to micro and small enterprise finance at Annual Meeting in Tirana

    more
  • Jun
    2011
    7

    EFSE signs local currency loan agreement with ProCredit Bank Macedonia to back MSEs

    more
  • Jun
    2011
    7

    EFSE and ARARATBANK sign loan agreement to support micro and small enterprises in Armenia

    more
  • Jun
    2011
    7

    EFSE signs loan agreement with Mikrofin in Bosnia and Herzegovina

    more
  • Jun
    2011
    7

    EFSE provides Raiffeisen banka Serbia with EUR 25 million credit facility to promote home improvement finance

    more
  • May
    2011
    18

    EFSE receives LuxFLAG Microfinance Label for the fourth consecutive time

    more
  • Apr
    2011
    5

    EFSE named as winner of the Luxembourg Fund Awards

    more
  • Apr
    2011
    5

    EFSE wird bei Luxembourg Fund Awards ausgezeichnet

    more
  • Mar
    2011
    28

    EFSE provides EUR 7 million loan to Romania’s Patria Credit

    more

Press releases 2010

  • Dec
    2010
    15

    European Fund for Southeast Europe looks back on five successful years

    more
  • Dec
    2010
    7

    EFSE and ProCredit Bank in Moldova sign agreement on synthetic local currency loan

    more
  • Nov
    2010
    26

    BKT borrows EUR 20 million from EFSE to boost small business finance in Albania

    more
  • Nov
    2010
    25

    EFSE provides EUR 15 million loan to ProCredit Bank Serbia

    more
  • Nov
    2010
    12

    G-20 initiative: The European Fund for Southeast Europe and its underlying concept selected as the world's no. 1

    more
  • Nov
    2010
    11

    EFSE launches investment activities in Georgia

    more
  • Nov
    2010
    11

    National Bank of Georgia, KfW and EFSE hold joint conference on responsible finance

    more
  • Nov
    2010
    1

    G-20 initiative honours European Fund of Southeast Europe as one of the best PPP models for SME finance in the world

    more
  • Oct
    2010
    1

    EFSE provides USD 5 million loan for small business lending to Armenia’s ARARATBANK

    more
  • Sep
    2010
    23

    EFSE provides EUR 20 million to Raiffeisenbank (Bulgaria) to promote housing finance in Bulgaria

    more
  • Jun
    2010
    9

    EFSE provides USD 10 million loan to Armenia’s Converse Bank for small business lending

    more
  • Jun
    2010
    9

    EFSE provides EUR 5.4 million to Belarus’ Belarusian Bank for Small Business

    more
  • Jun
    2010
    9

    EFSE provides USD 5 million loan to Azerbaijan’s Bank Respublika for small business lending

    more
  • Jun
    2010
    9

    EFSE provides EUR 20 million to Serbia’s Komercijalna Banka

    more
  • Jun
    2010
    9

    EFSE provides additional funding to develop small business sector in Southeast Europe

    more
  • May
    2010
    26

    EFSE reconfirms support for small business in FYR Macedonia

    more
  • May
    2010
    26

    EFSE reconfirms support for small businesses in Southeast Europe

    more
  • Apr
    2010
    8

    EFSE and Intesa Sanpaolo Banka in Bosnia and Herzegovina sign EUR 6 million credit line

    more
  • Mar
    2010
    26

    EFSE signs its largest loan agreement ever: EUR 25 million to Banca Intesa in Serbia

    more
  • Mar
    2010
    24

    Greater efforts needed to promote responsible finance practices

    more
  • Feb
    2010
    9

    EBRD and EFSE support micro and small businesses in Moldova

    more
  • Feb
    2010
    2

    Investment fund NORD/LB HORIZONT invests in microfinance investment fund EFSE

    more
  • Jan
    2010
    18

    EFSE disburses loan to NLB Razvojna banka for micro and small enterprise lending

    more
  • Jan
    2010
    4

    Microfinance investment fund EFSE acquires additional private investor

    more

Press releases 2009

  • Dec
    2009
    17

    EFSE expanding to four more countries of the European Eastern Neighbourhood Region

    more
  • Dec
    2009
    8

    Promoting responsible finance: a key response to the financial crisis

    more
  • Nov
    2009
    13

    EFSE provides EUR 8 million loan to NLB Tutunska Banka

    more
  • Nov
    2009
    12

    EFSE passes EUR 1 billion milestone in MSE and housing loan disbursements

    more
  • Oct
    2009
    8

    EFSE provides USD 10 million loan to Ukraine’s MEGABANK

    more
  • Jul
    2009
    10

    EFSE provides EUR 7 million loan to Albania's Credins Bank

    more
  • Jul
    2009
    3

    EFSE provides EUR 5 million loan to ProCredit Bank Albania

    more
  • Jun
    2009
    16

    LuxFLAG Microfinance Label for EFSE renewed

    more
  • Jun
    2009
    8

    EFSE provides EUR 15 million loan to Moldova Agroindbank

    more
  • May
    2009
    27

    EFSE provides EUR 20 million loan to Serbia's Komercijalna Banka

    more
  • May
    2009
    26

    EFSE ready to invest EUR 50 million in Serbia during 2009

    more
  • Jan
    2009
    15

    EFSE provides EUR 5 million loan to FYR Macedonia’s TTK Banka

    more

Press releases 2008

  • Oct
    2008
    21

    EFSE provides EUR 2 million loan to Kosovar microfinance institution KEP Trust

    more
  • Oct
    2008
    9

    Albania invests 14.8 million euros in the microfinance investment fund EFSE

    more
  • Oct
    2008
    6

    EFSE provides USD 3 Million Rural Loan to Moldovan Rural Finance Corporation

    more
  • Sep
    2008
    1

    EFSE-Mikrofinanzinvestmentfonds gewinnt ersten Publikumsfonds als Investor

    more
  • Aug
    2008
    6

    European Fund for Southeast Europe Provides EUR 10 Million Loan to Bosnian and Herzegovinian Microcredit Foundation Partner

    more
  • Jul
    2008
    16

    Crédit Coopératif acquires from European Fund for Southeast Europe Convertible Debt of Kosovar microfinance institution KRK

    more
  • Jun
    2008
    25

    Oesterreichische Entwicklungsbank invests EUR 33 million in the microfinance fund EFSE

    more
  • May
    2008
    13

    EFSE Annual Meeting 2008: Financial sector players call for intensified and joint action to promote responsible finance.

    more
  • May
    2008
    7

    EFSE Provides 10 mil in Local Currency to ProCredit Bank Romania for Very Small and Small Business Financing

    more
  • Apr
    2008
    24

    EFSE provides new EUR 5 mil MSE loan to NLB Montenegrobanka

    more
  • Apr
    2008
    21

    Responsible Finance becomes an increasing concern in the financial industry

    more
  • Jan
    2008
    23

    European Fund for Southeast Europe invests $5 million in The Currency Exchange Fund (TCX)

    more
  • Jan
    2008
    2

    European Fund for Southeast Europe - Restructures KRK in Kosovo - Enters First Equity Investment

    more
  • Jan
    2008
    1

    First Private Donation to the Development Facility to Support Microfinance Institutions - Highlights Successful Public-Private Partnership

    more

Press releases 2007

  • Jul
    2007
    2

    ProCredit Macedonia Signs Loan Agreement With European Fund for Southeast Europe (EFSE)

    more
  • Jun
    2007
    29

    FINCA International Signs Loan Agreements with European Fund for Southeast Europe

    more
  • Jun
    2007
    22

    Banca Sociala Moldova Signs Loan Agreements with European Fund for Southeast Europe (EFSE)

    more
  • May
    2007
    11

    The European Fund for Southeast Europe (EFSE) held its First Annual Meeting in Budva, Montenegro from 9-11 May

    more
  • Feb
    2007
    1

    LuxFLAG Microfinance Label granted to the European Fund for Southeast Europe (EFSE)

    more