Strengthening Financial Literacy in the Republic of Albania

Country
Albania

Local project partner
tbd.

German project partner
tbd.

Donor
Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ)

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Duration
01.06.2020 - 31.05.2022


Albania's economy is strongly dependent on official development assistance (ODA) and affected by high unemployment, especially among the 15- to 24-year old young adults. When it comes to financial literacy, there is a lot to catch up on. According to a national survey only 45% of Albania's population are financially literate, 40% have a bank account and thus access to the formal financial sector. Another challenge for the financial sector is the low level of lending. Only 50% of deposits are used to be disbursed as loans. The development of a national strategy on financial literacy is therefore supposed to improve the current situation. 

The overarching project goal is to improve the socio-economic living conditions of Albania's general population. Thus, the project targets to strengthen the financial literacy of ordinary private individuals, micro and small enterprises and small-scale farmers in selected regions of the Republic of Albania.

Services provided 

Strengthen selected organisations in designing and implementing customised offers to improve target groups' financial literacy 
Networking with other stakeholders and agents operating in the field of financial literacy in the regions 

Sparkassenstiftung für internationale Kooperation e.V.
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