Tirana, 22 November 2017: ICC Albania and Albanian Association of Banks (AAB) in collaboration with the Ministry of Finance and Economy organized a technical workshop on COSME programme, an EU financial instrument available for SMEs, which took place on the 22nd of November 2017 at Xheko Imperial Hotel.

The workshop was organized with the aim of providing financial institutions in Albania with the unique opportunity to become an EU financial intermediary.

This event was opened by Ms. Evisi Kopliku – COSME National Coordinator at the Ministry of Finance and Economy. While addressing her welcome remarks Ms. Kopliku said:

‘’COSME is an EU programme that aims to make it easier for SMEs to access finance and thus open up opportunities for START-UPs and SMEs that want to further grow and expand. In order to achieve this, COSME backs financial institutions by offering guarantees and risk sharing through its two financial instruments.”

The event was then followed by the presentations held by the two experts; Ms. Astrid Bartels and Mr. Gunnar Mai coming from the EU Commission and European Investment Fund respectively.

Ms. Bartels provided to the audience with an insight on the agreement framework and technical aspects of the EU financial instruments. She highlighted the advantages for financial institutions becoming part of this programme and eventually the benefits for the market in general.

Mr. Mai, focused in his presentation on the process and procedures needed to be followed and assessed for financial institutions to become part of this programme.

The workshop was followed by a session of questions and answers and later by bilateral meetings between interested financial institutions and the experts.

This event was attended by bankers, leasing companies’ experts, lawyers, experts from the Ministry of Finance and Economy and representatives from business organizations.

About COSME programme

COSME is an EU financial instrument channeled through local financial institutions. COSME aims to make it easier for small and medium-sized enterprises (SMEs) to access finance in all phases of their lifecycle – creation, expansion, or business transfer. Thanks to EU support, businesses have easier access to guarantees, loans and equity capital.

For more information about COSME click here.