Off the wire
• Flawless Radwanska into China Open semis  • APEC summit preparations on track: Philippine gov't  • Weather forecast for major Chinese cities, regions -- Oct. 9  • Weather forecast for world cities -- Oct. 9  • Hamas calls for enlarging intifada, more victims in Israeli-Palestinian violence  • Major news items in leading German newspapers  • Indonesia to send top shuttlers to tournaments in Europe  • Top advisory body to convene in November  • Klopp makes his debut at Liverpool  • Scottish nurse previously infected with Ebola readmitted to hospital  
You are here: 　 Home

EU launches program to back SMEs in Albania

Xinhua, October 9, 2015 Adjust font size:

The European Union, with cooperation from the Albanian government, on Thursday launched a 2-million-euro (2.3 million U.S. dollar) program to support small and medium-sized enterprises (SMEs) in Albania.

Over 120 enterprises are expected to receive support over the next three years under the program implemented by the European Bank for Reconstruction and Development (EBRD), according to the Albanian Telegraphic Agency.

The program is designed to help enhance local SMEs' competitiveness, innovation capacity, investment-catching ability, as well as business and operation know-how, including quality management, strategy planning, marketing, exports and energy efficiency, among others.

Romana Vlahutin, head of the EU mission to Albania, underlined the EU's long-term assistance in promoting Albania's economic development.

Arben Ahmetaj, Albanian Minister of Economic Development, Trade, Tourism and Entrepreneurship, welcomed the ongoing commitment from the EU and the EBRD to supporting SME development in Albania, describing the program as "very relevant."

Charlotte Ruhe, head of the EBRD Small Business Support Team, said the EBRD is currently offering unique support to SMEs by helping them access a combined range of advisory services and finance.

The program is part of an ongoing commitment from the EBRD and the EU to supporting SME development in Albania, she said.

The EBRD so far has invested almost 1 billion euros (1.1 billion dollars) in some 70 projects in various sectors of Albania's economy. Endi