European Investment Bank appoints representatives based in Albania and Bosnia

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal

BELGRADE (Reuters) - The European Investment Bank (EIB) has appointed representatives to be based in Bosnia and Albania to support EU and other investment and development initiatives, the lender said on Wednesday.

The EIB is a major international financier in the Western Balkans, comprising Serbia, Bosnia, Montenegro, Albania, Macedonia and Kosovo, all of which aspire to join the EU.

The EIB, the European Union’s largest development bank, has been present in the area since 2010 through its regional office in Belgrade.

The bank’s representatives will operate from the offices of EU delegations in Bosnia and Albania to support an EIB initiative that mainly focuses on offering finance and technical assistance to private business, the statement said.

Since 2007, the EIB has financed projects in the Western Balkans worth more than 8 billion euros ($9.1 billion), mainly for transport and infrastructure and to support to small and medium size enterprises (SMEs).

Reporting by Aleksandar Vasovic; Editing by Edmund Blair