FED Invest, JCIA launch joint $ 4.6m microcredit project supporting 40,000 farmers

About $ 4.6 million will go to about 40,000 small entrepreneurs in the field of agriculture.

FED Invest in cooperation with the Japan International Cooperation Agency JICA launched the 4-year project on “Financial Inclusion of Households and Family Farms”, which aims to expand the financial inclusion of the rural and semi urban populations, their support through financial and technological knowledge, market information, product marketing prices, and know-how of best international practices in agribusiness.

“The project aims to create a common knowledge and consolidation of organizations related to financial inclusion, thus enhancing the capacity for self-financing in Albania. The JICA Technical Cooperation Project will last four years and will provide some $ 4.6 million in support. The project is expected to improve the livelihoods of 40,000 small entrepreneurs through increasing the capacity of the FED investing capacities and improving its services,” said Hideya Kobayashi, Resident Representative of JICA’s Balkan Office.

“Our visible orientation in the project, the global initiative of financial inclusion, embracing new technologies are some of the directions where the JICA Project has decided to support FED Invest for the next four years.”

The main objective of the project is to improve access to financial services for small rural households in Albania by developing other financial and non-financial products that respond flexibly to the needs of farmers.

The Albanian economy is based on a large segment of household economies and enterprises, and 45 percent of the population lives in rural areas.

The scale of financial inclusion in Albania is very low.

SCAN

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