Social Finance Vibe 2023: Empowering the Future
FED invest – A Pioneer Institution of Inclusive Finance, Bolstering Rural Growth in Albania
FED invest showcased as a Success Story of Inclusive Finance and Rural Economy Growth at the Microfinance Center’s Social Finance Vibe Virtual Conference, organized on 21-22 November 2023: Empowering the Future.
FED invest’s CEO, Mr. Perlat Sulaj was one of the three panelists of the Day 2 session of the MFC’s Social Vibe Conference 2023, titled: Inclusive Finance and the Rural Economy: Maintaining and Boosting Growth.
During his presentation Mr. Sulaj emphasized the role of FED invest as a leading financial institution in Albania, dedicated to fostering inclusive finance and driving sustainable agriculture. He highlighted to the audience the remarkable success story of FED invest, a financial cooperative successful in embodying the transformative power of social finance in rural communities.
Among others, Mr. Sulaj pointed out that "At FED invest, our commitment to rural development is unwavering. We've encountered and surmounted various obstacles, and this session presents an opportunity to share our experiences and learn from others".
He continued to show FED invest’s impact over a span of three decades of operations deep in rural communities. As a member-based, not-for-profit organization boasting 90,000 members, predominantly from rural regions, FED invest operates through 64 branches. Significantly, 35% of its members are women, a testament to its commitment to gender equality in financial access. Dedicated to enabling communities with limited financial access, FED invest offers a suite of financial products, from loans and deposits to current accounts, utility payments, and internet banking. Beyond financial services, FED invest prioritizes financial literacy programs and non-financial services, delivering vital education and tools to farmers and small businesses. Farm demonstrations, training, online articles and interactive tools, news on technology, best practices and market prices, and networking opportunities offered via ABA Center and its online platform empower these individuals to thrive in their endeavors.
The organization’ s impact speaks volumes: over 200,000 loans disbursed over the years across 2,500 villages, including remote areas; an active borrower’s base in the agricultural sector, representing a significant portion of the overall agricultural lending sector in Albania, and its unparalleled presence in rural areas with 40 branches, surpassing any other financial institution.
Mr. Sulaj explained that FED invest addresses vulnerabilities faced by rural members on two fronts: economic vulnerability arising from volatile crop production and spatial exclusion resulting from remote locations, hindering access to financial services, markets, and social networks.
In 2021, FED invest launched abaonline.al, a unique digital platform offering invaluable insights, technological best practices, market access, and business opportunities to farmers and agriculture sectors. With over 15,000 registered users benefitting from this initiative, the platform fosters communication, knowledge-sharing, and market connections among stakeholders.
The Microfinance Centre is a social finance network that promotes fairness, inclusion, equality, and responsible service. The network unites over 100 organizations across 36 countries of Europe, Central Asia, who together deliver responsible microfinance services to almost 2,000,000 low-income clients.
https://mfc.org.pl/
For media inquiries or further information, please contact info@fedinvest.al or visit the website https://www.fedinvest.al
About the MFC conference:
Almost 400 attendees joined from 77 countries, including 23 EU member nations. The event featured 12 sessions, 10 Talk with Leaders, and 2 inspirational talks by keynote speakers. Additionally, 2 organizations were recognized in the Green Inclusive Finance Recognition ceremony.
