Intesa Sanpaolo Bank Albania has provided a €26 mln loan to finance the construction of a MGallery Hotel (Accor Group) in Green Coast, Albania.
This luxury hotel project, developed by the Balfin Group, will be supported by the European Bank for Reconstruction and Development (EBRD) through its Risk Sharing Framework (RSF), which will cover up to 50% of the loan amount.
Intesa Sanpaolo Bank Albania has classified this loan as an ESG Financing under the Energy Efficient Building category. It is the largest ESG financing of the year for the bank in the tourism sector, a strategic priority for Albania.
The project will be located on a prime position on the Albanian Riviera, one of the country's most popular tourist destinations. The hotel will be designed to be energy efficient, reducing energy consumption by an estimated 34.43%.
Alessandro D’Oria, CEO of Intesa Sanpaolo Bank Albania, said: ‘Financing sustainable tourism investments is among our top priorities. We will continue to promote the development of sustainable tourism in Albania with investments that will enrich the offer for the rising number of tourists in the country.’
Edlira Muka, CEO of Balfin Group, commented: ‘As a private company, we take pride in investing in projects that contribute to community development, support the country’s strategic tourism goals, raise standards, and create employment opportunities.’
Ekaterina Solovova, EBRD head of Albania, added: ‘Sustainable hospitality infrastructure is essential for the industry’s growth, and through this development Balfin Group and Accor bring the quality and high standard to the Albanian market.’
The Balfin Group's investment marks the official entry of Accor's brand into the country. The opening of the MGallery hotel is expected to open in early 2025.
This sustainable project aligns with the National Strategy for Sustainable Tourism Development, which encourages targeted private investments to attract renowned international brands and focus on key tourism areas.
