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BSTDB Expands Support for Microfinance in Albania

News | 10-Dec-2020

The Black Sea Trade and Development Bank (BSTDB) provided a second Micro-SME Facility to NOA Sh.A., a leading Albanian microfinance institution. The new EUR 2 million facility will be used to support micro and small businesses, mainly farmers, who are significantly challenged by the impact of the COVID-19 pandemic. 

Signing the loan agreement, Dmitry Pankin, BSTDB President said: “Microfinance is an essential tool to support economic growth in Albania and in our Region, especially in the sector of agriculture. We are pleased to continue our cooperation with NOA, a leading company with strong corporate governance managed by women and supporting many women-owned and women-led businesses in Albania."

“NOA continued supporting micro businesses, farmers, and families throughout these challenging times and made financial services always accessible to underserved segments. Cooperation with BSTDB helps us to support jobs, social cohesion, and financial stability in Albania. As a microfinance institution, we highly appreciate the responsiveness and efficiency of the BSTDB, fully demonstrating its mission of a Regional Development Bank: impacting the local economy, even more when in need,” said Herjola Spahiu, Chief Executive Officer of NOA.


Established in 1998, NOA sh.a. is one of the largest microfinance institutions in Albania. Its customers are served by 260 employees, through a national network of 25 branches, covering almost 90% of the country. The company provides its financial products through mobile and digital solutions, increasing the rapidity and reach for its customers.


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