A new phase to promote rural economic development in Albania was launched on October 5th 2021. FED invest, Albania’s key MFI, will continue its partnership with The Netherlands Ministry of Foreign Affairs, the European Fund for South East Europe and Rabo Partnerships for another 3 years.
The partnership aims to enhance financial inclusion and strengthen the agricultural value chains through extension of new products and services – enabling new digital capabilities recently developed within FED invest as part of its mission to serve the rural economy of Albania.
The new phase is designed to support FED invest in realising its growth strategy, and to develop new product/service propositions largely based on digital delivery mechanisms -in line with the needs and requirements of FED invest’s prospective client base. This will make financial services available to a larger part of the (rural) population, increasing the depth of service of FED invest to its members - introducing programs for special focus groups and deploying the payment services for day-to-day use by the members, and preparation of increased scale of operations in terms of organisation, capitalisation, and access to financial markets.
FED invest and its project partners are very proud to continue the relationship which started in 2014, providing significant impact to the development of the Albanian rural economy. The new phase was launched through the first Steering Committee Meeting held on the 5th of October 2021.
About FED invest
FED invest Credit and Savings Association is the first pioneering microfinance institution established in Albania as a spin-off of a pilot World Bank initiative in 1992. FED invest represents a financial cooperative organization with more than 79 thousand members served through 62 branches across the country. FED invest members include farmers, small-entrepreneurs, rural & urban families excluded from banking financial services. As a leader in providing affordable financial solutions to rural population, FED invest has a direct impact on the socio-economic development of Albania, with over 160 thousand loans and half a billion euros injected in the economy throughout its 29 years of existence. For more information about the FED Invest please visit https://www.fedinvest.al .
Ministry of Foreign Affairs of the Kingdom of the Netherlands
The Ministry of Foreign Affairs is the channel through which the Dutch Government communicates with foreign governments and international organisations. It coordinates and carries out Dutch foreign policy. The Ministry has two halves: its headquarters in The Hague and its missions abroad (embassies, consulates, and permanent representations).
More information: https://www.government.nl/ministries/ministry-of-foreign-affairs/about-the-ministry. https://www.government.nl/ministries/ministry-of-foreign-affairs/about-the-ministry.
About Rabo Partnerships B.V.
Rabo Partnerships (RP), a full subsidiary of Rabobank – a Dutch leading international F&A bank - will be the principal provider of expertise in this project. RP’s mission is to provide developing societies with improved access to financial services, employing cooperative principles and banking expertise. RP wants to reach the unserved whether they are smallholders, SMEs or private individuals. To this end it provides advisory services.
As a strategic partner, RP assists financial institutions and donor organisations in realizing its strategic ambitions through financial sector transformation creating sustainable institutions serving rural and underserved areas. As part of the Rabobank Group, RP creates strategic partnerships that extends Rabobank’s international network to emerging markets strongly believing in the importance of agri-potential of the local economies. For more information on Rabo Partnerships B.V., please visit https://www.rabobank.com/rabopartnerships.
About EFSE
An impact investment fund established in 2005, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region by investing in the success of micro and small enterprises as well as improved living conditions for private households. As access to financial services is key to developing this segment, EFSE focuses on helping local financial sectors strengthen their ability to provide responsible financing for this target group. Alongside its investment activities through local partners, EFSE multiplies its impact through the EFSE Development Facility, which provides technical assistance, training, and other nonfinancial support to entrepreneurs and institutions.
EFSE was initiated by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission.
It aims to foster economic development and prosperity in 16 countries in Southeast Europe and the European Eastern Neighbourhood. As access to finance is a key to successfully developing micro, small and medium enterprises (MSMEs), the fund seeks to improve the ability of local financial sectors to ensure adequate and sustainable financing. Although it offers funding for private households in the form of home improvement loans, EFSE primarily provides long-term finance for MSMEs. Funds are channelled to these loan customers through local partner lending institutions.
Initiated by KfW in 2005 from four multi-donor programs under its management, the EFSE wasAs the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors.
Finance in Motion GmbH, Germany, serves as EFSE’s advisor and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager.
For more information on the European Fund for Southeast Europe, please visit: http://www.efse.lu/ .www.efse.lu
For more information on Finance in Motion, please visit: www.finance-in-motion.com
About the EFSE Development Facility
The Development Facility of the European Fund for Southeast Europe (EFSE DF) was created in 2006 to support the fund’s development finance mandate. It deploys effective, targeted, and innovative technical assistance to maximise the impact and extent of the fund in EFSE’S target countries. The EFSE Entrepreneurship Academy is an arm of the EFSE DF that specifically focuses providing entrepreneurs with the resources, training, opportunities for financial backing, and other means necessary to turn good ideas into successful enterprises.
Managed by impact asset manager Finance in Motion, the facility operates independently from the fund in a fiduciary arrangement under Luxembourg law. The Development Facility Committee, comprising members nominated by KfW Development Bank, the development bank of Austria OeEB, and the Dutch development bank FMO, is responsible for assessing and approving all project proposals and providing strategic guidance to the facility.
For more information on the European Fund for Southeast Europe, please visit: www.efse.lu
For more information on Finance in Motion, please visit: www.finance-in-motion.com
First row from left to right: Venera Hoxha, Member of Streering Committee, Finance in Motion (EFSE DF Representative) Bjorn Schrijver, Senior Project Manager, Rabo Partnership Reinout Vos, Ambassador of the Kingdom of the Netherlands in Albania Zana Konini, Chairwoman of FED invest`s Managing Council Second row left right: Aida Lahi, Senior Advisor on Economic Affairs, Embassy of the Kingdom of the Netherlands, Tom Gruintjes, Senior Project Manager, Rabo Partnership Merita Cani, Member of FED invest`s Managing Council Perlat Sulaj, CEO of FED invest Zana Maloku, Finance in Motion (EFSE DF Representative) Elton Hysenaj, Project Manager, FED invest
