main navigation menu miga logo
World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Subscribe to Our Monthly Newsletter
x

About Dropdown Description

World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Our Products Dropdown Description

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Projects Dropdown Descriptions

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Albania

Intercommercial Bank S.A. Albania

$7.02 million
Banking
Project Brief
Not Active
twitteremail

MIGA provided the Commercial Bank of Greece S.A. with a $7 million guarantee to cover its equity investment in the Intercommercial Bank S.A. Albania, one of its subsidiaries. The investment will be protected against transfer restriction, expropriation, and war and civil disturbance. The project will introduce a number of financial services previously unavailable in Albania, an IDA-eligible country. Currently, the bank has only one location, in Tirana, but other branches and offices are planned.

The project will broaden the range and quality of financial services in Albania, especially in project finance, trade finance, and money market activities. It will also increase the availability of medium- and long-term capital to SMEs and retail firms, and provide them with lower costs of funding. The target for these services includes small and medium-size domestic firms and domestic retail companies, as well as foreign companies. The project supports the government's financial sector reform and privatization program, and is expected to provide training to its 60 new local employees.

twitteremail