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albania noa microfinance proparco smes
In the presence of the Ambassador of France, Ms. Elisabeth Barsacq, an agreement for the financing of Albanian SMEs worth 5 million euros was signed between Proparco and NOA. It is the first time that Proparco supports Albania with such a financing. Targeting small enterprises and family businesses, the financing will be injected to the local economy through the intermediary role of NOA, a financial institution operating in Albania since 1998.

Fully dedicated to the small business economy, these financial instruments are vital to guarantee an uninterrupted access to finance for Albanian businesses which continue to face consecutive challenges, starting from the earthquake & post-covid recovery, the price increase and the impact in trade from the war in Ukraine, etc.

The Ambassador of France, Ms. Barsacq in her welcoming word declared that “with the accession talks to EU, a very important task for Albania is to fight the lack of transparency and to fight the corruption”

During her speech, Mrs. Herjola Spahiu, CEO of NOA, said that "every year, Albanian financial institutions inject over 100 million euros in the direction of small businesses, family businesses, as well as farmers of the rural economy, positioning themselves as main promoters of financing this key segment of the Albanian economy. This is no coincidence, and I believe that NOA is the best example of this reality. With over 12,000 clients and an active portfolio that exceeds 60 million euros, NOA supports this development mission thanks to its dedication in providing a proximity, humane and adapted service. A service that is based on listening and responding to the realities on the ground, to the challenges and to the ambitions of Albanian entrepreneurs. Small and family businesses, who, it must be said, crisis after crisis, year after year, are proving an extraordinary resilience and perseverance not to hand over their economic activity at any moment, to protect jobs, to protect the economic spirit in every territory of the country. Well today, this financing of 5 million euros from the French government and Proparco, serves exactly this purpose. That the Albanian territories are not abandoned and that entrepreneurship flourishes, everywhere, because in the end, we as bankers, we serve a human finance, a finance that deals with people and not only with numbers".

On the other hand, Mr. Stephane Froissardey, Proparco’s Director for Eurasia, said that "Proparco is proud to support such an important Albanian microfinance institution as NOA, recognized for its responsible lending practices and client protection policies. This is Proparco's first project in the country, in perfect harmony with our strategy aimed at reducing inequalities, by facilitating access to finance for MSMEs and underbanked population, including the agricultural sector. Proparco thus wishes to start, with this first intervention, the beginning of a fruitful partnership with the Albanian private sector."

Further reading

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