Smallholder Families' Financial Inclusion Project in Albania
Albania
June 21, 2017
The project will be implemented in all the regions where Fed invest (Implementing Agency) has the presence with branches.
October 1, 2017 to June1, 2022
Ministry of Finance and Economy
The Albanian economy is based on a large segment of the household's economies and entrepreneurships. Fourt-five % of its population lives in rural areas.
The agriculture sector has one of the strongest contributors to GDP. On the other hand, the scale of financial inclusion in Albania is low. Only 38% of people over the age of 15 have bank accounts in formal financial institutions, leaving many families without access to financial services.
In order to tackle this issue, JICA and the government of Albania have launched this project.
Livelihood of smallholder families in Albania is improved through financial inclusion.
Financial inclusion of smallholder families in Albania has been expanded through improved usage of financial products and non-financial services offered by FED invest.
1 Financial products developed or enriched through customer centric processes by FED invest start being utilized by its members.
1-1 | Prepare and conduct demand survey. |
1-2 | Conduct pilot trials of new and improved financial products. |
1-3 | Establish a customer centric operations and management process, including product development cycle, at FED invest. |
2 Operation of the Agri Knowledge Centre, which provides non-financial services, is established.
2-1 | Discuss service contents, responsibilities and operations of the Agri Knowledge Centre, based on the data collected from the demand survey. |
3 FED invest expands financial and non-financial services through acquisition and implementation of a new Core Banking System and related hardware and digital technology.
3-1 | Plan details of the IT software and hardware upgrades based on the IT Strategy of FED invest, taking technological development in the near future into full account. |
3-2 | Procure necessary equipment and software for implementing the IT Strategy. |
3-3 | Conduct training for the staff members on the usage of the newly introduced IT software and hardware. |
3-4 | Plan and expand branchless banking operation to geographical areas where the branchless banking is newly introduced. |
3-5 | Introduce the management mechanism of the social performance data through newly introduced IT software and hardware. |
Experts x4