Tirana Bank is joining IFC’s Global Trade Finance Program (GTFP), demonstrating the institutions shared commitment to fostering sustainable economic growth and private sector development in Albania. The GTFP helps local banks expand financing for cross-border trade by offering payment risk guarantees and managing payment risks. As part of this partnership, IFC will provide a $5 million trade finance guarantee facility to Tirana Bank, enabling the bank to finance more imports and exports, increase partnerships with international banks, and support Albanian businesses in reaching new global markets.
Through this collaboration, Tirana Bank will be able to offer enhanced trade finance facilities to its corporate and small business clients, helping them become more competitive and better integrated into regional and international supply chains.
The new facility will enable Tirana Bank to issue trade finance instruments such as letters of credit, guarantees, and other trade-related products, mitigating risk and facilitating smoother transactions for Albanian businesses engaged in cross-border trade.
Edlira Muka, Chief Executive Officer, BALFIN Group stated: “We are proud to extend our partnership network with one of the world’s most respected financial institutions. This agreement with IFC reinforces Tirana Bank’s strategy for growth and innovation in the Albanian market, as a key part of BALFIN Group’s financial services portfolio. It will directly support businesses in expanding their operations internationally, providing access to financial instruments that encourage trade and competitiveness. Following Tirana Bank’s recognitions as the Best Bank in Albania by Euromoney and Bank of the year by the Banker in 2025, demonstrates once again our dedication to empowering clients and contributing to the country’s sustainable economic development.”
“This partnership marks an important step in strengthening Albania’s trade ecosystem and supporting private sector growth,” said Wiebke Schloemer, IFC Director for the Western Balkans and South Caucasus. “Through our Global Trade Finance Program we will help Tirana Bank expand access to trade finance for local companies, enabling them to grow, create jobs, and better integrate into regional and global markets.”
This milestone confirms Tirana Bank’s strategic direction of building strong partnerships with leading international financial institutions. Through these alliances, Tirana Bank continues to deliver financial solutions that support Albania’s long-term economic potential.
About IFC
IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
