Today, on October 15th, 2019, the Albanian Microfinance Association (AMA), with the support of the European Microfinance Network (EMN) and the Microfinance Centre (MFC), held a reception on the occasion of “European Microfinance Day 2019”. This event was aiming at presenting the industry achievements on a local and European level, with the final goal of increasing awareness on the social and economic impact of microfinance by providing financial inclusion, poverty reduction and job creation.

Present at the event were representatives of Government, Bank of Albania, business agencies and chambers of commerce, various entities and institutions supporting the microfinance industry in Albania, as well as non-bank financial institutions, members of the Association or not, which have lending as their core business.

The event was kicked off with a greeting speech from the current President of AMA, and simultaneously as Chief Executive Officer of FedInvest, Mr. Perlat Sulaj, who made a resume of microfinance achievements through the years, but also of challenges faced by this sector during the 27 years of its existence.

Afterwards the floor was taken by Ms. Brunilda Isaj, AMA General Secretary, who made an illustration in figures of the industry, by presenting lending volumes, number of clients, market positioning, portfolio quality, and economic impact of non-bank financial institutions, members of AMA, and by inviting the rest of the NBFI-s to join the Association with the mission of creating one representing voice in the Albanian financial reality.

In relation to European developments of microfinance industry, its achievements, opportunities and challenges, a presentation was delivered by Mr. Nicola Benaglio, Senior Researcher at the European Microfinance Network, seated in Brussels, Belgium.

A greeting speech to the event was also given by Mr. Deniz Dëralla, Director of Supervisory Department at Bank of Albania, who spoke about the strategy and measures taken by Bank of Albania in relation to the financial education of public, and the role that microfinance has to play in this regard. He made a note in terms of responsible lending, transparency towards customers, and the correct adherence to the legal and regulatory framework, in order to assure industry sustainability and qualitative and value bringing developments in the Albanian market.

On behalf of the EIB Group, sponsor of #2019EMD activities, the event was greeted by Mr. Alessandro Bragonzi, representative of European Investment Bank and European Investment Fund (EIF), who after introducing to the audience EIB Group and its activities in the Region, said that the synergies to support the financial market in Albania are present, and that EIB Group considers the region as a potential target for introducing financial schemes and instruments that would support the economy. The event was concluded with a networking session.