Financing granted
Loan of 2M€ *
(equivalent in local currency)
Foundation partner
since the 1st half of 2024
*Outstanding amount at grant value
Context:
Although Albania’s economy continues to grow, it has slowed down and the country remains one of the poorest in Europe. A large informal economy and weak energy and transport infrastructure persist. In addition, like other Western Balkan countries, Albania suffers from a steady emigration of its population to EU countries.
The institution :
NOA is a Tier 2 microfinance institution established in 1998 by USAID. NOA provides a wide range of services (credit, technical support, foreign currency payments). NOA’s mission is to provide comprehensive financial and non-financial services to Albanian entrepreneurs, farmers and families.
Impact:
NOA has a consistent “human finance” strategy, aiming to implement best practices (the MFI has just achieved CPP silver certification) while conducting sustainability and impact projects.