The Council of Europe Development Bank (CEB) has approved a €15 million loan to ProCredit Bank Albania to provide small and medium-sized enterprises (SMEs) with access to long-term financing, and thus to support employment.

By funding SME investments and working capital, the loan will offer a defence against further deterioration of a labour market which has been challenged by COVID-19. Some 100 projects are expected to benefit from the financing, particularly in the trade and manufacturing sectors.

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