The Minister of State for Entrepreneurship and Business Climate has introduced a draft law for the establishment of the Development Bank of Albania (“DBA”), a specialised public financial institution designed to facilitate financing for small and medium enterprises, start-ups, and underfinanced sectors. The bank is also envisioned as a key player in promoting exports of domestic products and services, as well as supporting public projects and various infrastructure developments.

Harrisons has advised the EBRD on two loan facilities provided to Crnogorska Komercijalna Banka Podgorica aimed at enhancing access to affordable green finance for businesses and homeowners.

Bernitsas has advised Ethniki Holdings Limited on the sale of its 90.01% stake in Ethniki Asfalistiki to Piraeus Bank for a total consideration of EUR 600 million on a 100% basis.

Harrisons has advised the EBRD on an RSD 1.17 billion (approximately EUR 10 million equivalent) loan under the GEFF Regional framework program to Erste Bank.

Are you unsure whether a takeover bid is required when a controlling interest in a company is transferred to a trust? The Czech National Bank (CNB) has issued a clarifying statement on this issue.

In its recent decision of 19 February 2025, the Supreme Court of Hungary (‘Curia’) overturned the second-degree verdict that held fraud victims solely liable and ruled that financial institutions cannot automatically reject compensation claims. This landmark decision might open the doors for customers to claims against their banks in similar cases.