TIRANA, May 31 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) will assist Albanian small and medium-sized enterprises (SMEs) to become internationalized and expand trading opportunities, local media reported Wednesday.
The EBRD is implementing an advisory project for small businesses in Albania under a bank program funded by the European Union (EU).
The objective of the project is to help Albanian SMEs build capacity and gain know-how in order to grow and become more competitive by establishing links to local and international consultancy firms.
SMEs represent the backbone of the Albanian economy, and the authorities here have undertaken several initiatives to further support their growth and development.
The EBRD has played an important role in supporting Albanian SMEs in recent years.
Under the EBRD's 2016 to 2019 strategy on Albania, special attention is dedicated to programs aimed at enhancing competitiveness of the private sector along major energy projects.
To date, the EBRD has invested one billion euros (1.12 billion U.S. dollars) in 77 projects in Albania where infrastructure and energy are the largest sectors of EBRD investments.
