The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a five-year loan of EUR 1 million (USD 1.35 million) Albanian leasing company LandesLease. LandesLease intends to use the funds to expand its services to small and medium-sized enterprises (SMEs). As reported by MicroCapital at the time, EBRD provided a similar loan to LandesLease in May 2010.
Since 2008, LandesLease has financed approximately EUR 30 million (USD 40.4 million) of lease contracts for vehicles, equipment and machinery. Additional financial data for LandesLease is not available.
EBRD is owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe, Central Asia and more recently in Southern and Eastern Mediterranean region. In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion). Since 1992, EBRD has invested EUR 700 million (USD 942 million) in Albania.
By Brendan Millan, Research Associate
About the European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) is a development finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe, Central Asia and more recently in Southern and Eastern Mediterranean region. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).
About LandesLease
Founded in 2005, LandesLease is an independent Albanian leasing company focusing on small and medium-sized enterprises (SMEs). Since 2008, LandesLease has financed approximately EUR 30 million (USD 40.4 million) of lease contracts for vehicles, equipment and machinery. Additional financial data for LandesLease is not available.
Sources and Additional Resources:
[1] European Bank for Reconstruction and Development: “EBRD Supports Lending in Albania with €1 Million to Landeslease” by Svitlana Pyrkalo, http://www.ebrd.com/pages/news/press/2013/130128.shtml
MicroCapital.org story, December 24, 2012, “EBRD Loans $56m to Ohridska Banka of Macedonia, Banca Intesa Beograd of Serbia for SMEs”, https://www.microcapital.org/microcapital-brief-ebrd-loans-56m-to-ohridska-banka-of-macedonia-banca-intesa-beograd-of-serbia-for-smes/
MicroCapital.org story, December 20, 2012, “European Bank for Reconstruction and Development Loans $13.2 to BT Leasing Transilvania of Romania”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-loans-13-2m-to-bt-leasing-transilvania-of-romania/
MicroCapital.org story, May 17, 2010, “European Bank for Reconstruction and Development (EBRD) Provides $1.3m Loan to Albanian Leasing Company LandesLease Serving Small and Medium-sized Enterprises”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-provides-13m-loan-to-albanian-leasing-company-landeslease-serving-small-and-medium-sized-enterprises/
MicroCapital Universe Profile: European Bank for Reconstruction and Development (EBRD), http://microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29
MicroCapital Universe Profile: LandesLease, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=LandesLease
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