(Alliance News) - Intesa Sanpaolo Spa announced the group's subsidiary, Intesa Sanpaolo Bank Albania, and Cassa Depositi e Prestiti have signed a long-term financing agreement for EUR10 million, which will enable the activation of resources amounting to at least EUR20 million, with the aim of supporting the growth of Albanian SMEs operating in sectors with high ESG impact through financing at favorable rates.

More specifically, the agreement is in favor of Albanian SMEs seeking opportunities in the following areas: green economy, social entrepreneurship, sustainable agriculture, circular economy and ecotourism.

The funds - made available as part of the Wetsern Balkans Investment Framework initiative - will enable the support of at least 50 local businesses, creating new jobs and contributing to the achievement of five UN Sustainable Development Goals, the company says in a note.

The initiative also favors Italian companies interested in the business opportunities that Albania and the Western Balkans area can offer, strengthening economic relations between Albania and Italy.

"I am sure that our collaboration with CDP in Albania will further contribute to activate new opportunities and synergies, within the framework of the strong strategic relationship between Intesa Sanpaolo and the network of Italian institutions, such as CDP, SACE and SIMEST, which work to serve the internationalization process of Italian companies and for the development of local economies," commented Marco Elio Rottigni, Chief International Subsidiary Banks Division - Intesa Sanpaolo.

The agreement follows a few days after the one signed in Serbia, also with CDP, and is part of a multi-tranche program that will also involve other countries where Intesa Sanpaolo is present.

Intesa Sanpaolo's stock is down 2.3 percent at EUR2.84 per share.

By Chiara Bruschi, Alliance News reporter

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