The First Albanian Financial Development Company (FAF-DC) is a non-banking financial
institution providing loans directly to individuals and to Small and Medium Enterprises
(SME-s) in urban and semi urban rural and disadvantaged areas of Albania which in most cases are out of the reach from the banks.
FAF-DC provides loans mainly for the private enterprises that are profitable and stable and their activity has a positive impact on the development of the area by creating new jobs and markets, trying to reduce poverty and improving the living conditions of the people.
The First Albanian Financial Development Company (FAF-DC) has inherited the activity of MAFF, it is established as an implementation of the Strategy endorsed by the Government of Albania and IFAD “For the conversion of ‘The Mountain Areas Finance Fund - MAFF’ into “Financial Development Company “the Decision of the Council of Ministers No. 904, date 27.06.2008, further consolidating MAFF mission. In accordance with the approved strategy, FAF is a governmental owned company opened to a potential strategic investor with equity by December 2014 of ALL 1,246,665,115.
As a mission oriented Company, FAF-DC has a sustainable and qualitative loan portfolio, operates successfully in 27 branches providing a wide menu of financial products in almost 85% of the territory of Albania. FAF-DC has a history of effective financial self-sufficiency to an acceptable level of risk.
• The First Albanian Financial Development Company (FAF-DC) established on early
the beginning of 2009, as an implementation of the Strategy “For the conversion of
the Mountain Areas Finance Fund - MAFF’ into ‘Financial Development Company,
endorsed by the Government of Albania, Decision of the Council of Ministers No.904,
• FAF-DC is registered at National Registration Centre on 31.12.2008
• FAF-DC is licensed by the Bank of Albania for all sorts of crediting.
• In May 2009, there has been approved the Loan Agreement of 5 Million Euros between the Albanian Government and CEB.
• In May 2014, there has been approved the Loan Agreement of 5 Million Dollars between the Albanian Government and IDB.
Mission: The mission of the FAFDC is “to contribute to the economic growth of the mountain,generally poorer, areas of Albania by providing its target clients access to appropriateand sustainable financial services consistent with their investment needs and businessobjectives.
GOALS & OBJECTIVES
• Support the development of the local economy by providing a more efficient and
effective allocation of financial resources and services;
• Respond to the needs in a market context for micro-businesses and small/medium
size investment and financial services;
• Contribute to a wider distribution of financial products and services in rural and
• Foster the emergence of new businesses and the expansion of existing ones.
• Loans for agriculture and micro farms
• Loans for agro-Industry
• Loans for agro-tourism and family tourism
• Loans for livestock
• Non-agriculture loans for the mountainous, rural, urban and sub-urban areas
• Loans for syndicates in cooperation with trade banks, governmental subventions,
foreign donors, etc.
• Loans for natural resources (mines, hydro-powers, etc.).