Economic Development of Rural Albania Kicks Off
Albanian Daily News
Published September 22, 2016

At the premises of the
Netherlands Embassy in Tirana was signed on Thursday the agreement for the start of the
project: “Enhancing financial services to contribute to the economic
development of rural Albania”. This project will be supported by The
Netherlands Ministry of Foreign Affairs, Development Facility European Fund for
South East Europe, Rabo International Advisory Services and FED invest.



The project will be implemented by FED invest with the
technical assistance of RIAS and EFSE, with the goal of structural improvement
of financial inclusion in Albania, as a contributor for the development of
rural economy of the country and improvement of living standards of the rural
population.



This project follows the successful development of the
transformation of the former Albanian Savings and Credit Union into FED invest
through the merger of 70 SCAs and licensing of the new SCA by the Bank of
Albania on 2nd of March 2016.



FED invest deposits portfolio amounts ALL 2.55 billion and
loan portfolio ALL 2.83 billion. With activity in more than one third of the
villages of the country, FED invest is a financial cooperative owned by its
base of more than 37,000 members. As such the strategic and institutional focus
of FED invest on agriculture is unique in Albania as it does not focus on
profit maximization but rather focuses on offering maximum value to its members
through suitable and favorable financial services.



 The objectives of
the project reflect FED invest’s aspirations to become a leading agri finance
provider in rural areas, increase its outreach to SMEs and service offering to
the currently unbanked, while keeping its symbiotic relationship with the rural
communities.





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