Microcredit Project

closed

The Micro-credit Project for Albania aims to address private sector development and poverty alleviation by increasing the availability of financial services to rural farmers and entrepreneurs and urban micro-entrepreneurs and the self-employed. The project has four components. The first component helps establish and extend a private, sustainable savings and credit association (SCA) network in rural areas-using as a basis the current system of village credit funds-and the progressive development of an SCA Union. The second component expands urban micro-credit and the development of a private, sustainable micro-credit institution, established from the existing Urban Credit Department of the Albanian Development Fund (ADF). The third component provides technical assistance and training to develop an appropriate legal, regulatory, and supervision framework for rural SCAs and their Union, and micro-credit nongovernmental organizations. The fourth component finances project management.