Social Issue

When Albania went from being a communist country to a democratic one, the country’s GDP fell sharply. As a consequence, the poverty rate increased and many had to emigrate in order to provide for their families.

Albania has grown from a centrally planned to a free-market economy in recent decades, with considerable international aid and strategic assistance.

Our Response

The promotion of the private sector and, particularly, micro and small companies are a very important axis for the continuous development of the country.

BESA has the mission of promoting economic growth and reducing poverty through the promotion of micro and small businesses, offering them loans and supporting them with credits.

Fondi BESA began operations in early 1994 as a microfinance project in urban areas by a state agency financed by the World Bank. In 1999, this project was transferred to Besa Fund, an NGO created by the Soros Foundation, which in 2008 received the license to operate as a non-bank financial institution. In 2016, BESA bought Agro & Social Fund from VisionFund, specialised in loans for the agricultural sector. BESA is now the largest microfinance institution in the country, representing 40% of the sector.

Most of their loans are for investment or reinforcement of the working capital of said companies. BESA has expanded in the rural sector, where the incidence of poverty is more serious.

Expected Social Impact

With this investment of the Netri Foundation, it is estimated that Fondi BESA will be able to provide 140 microloans with the idea of generating opportunities and employment in the country.