VisionFund Albania | MFIs in Albania

Data provided through VisionFund Albania

Gross Loan Portfolio USD, 2011: 2.0 million

Number of active borrowers 2011: 2,381

Average loan balance per borrower USD, 2011: 859.0

Deposits USD, 2011: 0.0

Assets USD, 2011: 2.3 million

Number of depositors 2011: 0

Mission:

To improve child welfare by giving parents new opportunities and strengthening their communities.VisionFund Albania does this by offering affordable loans and professional services to the economically active poor, micro-entrepreneurs and small businesses.

Background and Main Challenges:

World Vision started microfinance operations in Albania in May 2000. Until the end of 2009, this was through Building Futures, a microfinance program of WV Albania. From 2010, this has been through VisionFund Albania, a Limited Liability Company that is 100% owned by VisionFund International. VF ... Read more

Address:

Rr."Ibrahim Rrugova", PLL.26, KT.3

Tirana

Albania

Phone:

+355 4 224 8668

Email:

info [at] visionfund [dot] al

Website:

www.visionfund.al

Main Funding Sources:

Grants

Loans

Shareholder Capital

Products and Services:

Loans

Looking for (Investment Types):

Loans in Local Currency

Loans in USD

Capacity-Building Grants

Donations

Loans in EUR

% Operations Comprised by MF:

0 - 10

Date established:

May 31 2000

FYE:

31-Dec

Current Legal Status:

Other

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in urban areas	1
Women	2
Clients living in rural areas	3
+ Development goals (ranked by importance)
Increased access to financial services	1
Poverty reduction	2
Employment generation	3
Gender equality and women's empowerment	4
Growth of existing businesses	5
Development of start-up enterprises	6
Children's schooling	7
Health improvement	8
Housing	8
+ Poverty targets
Low income clients	1
+ Governance
Has trained members of its board on social performance management
Has a formal board committee that monitors social performance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises	1
Microcredit for household needs/consumption	1
SME loans
Loans for agriculture	1
Loans for education	1
Housing loans	1
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Other education services offered:	1
Int ps nonfinsvcedothertext c	Trainings on child education
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	"Integration loan" product offered to very poor clients with very low interest rate in order to create a value chain project with World Vision Albania for farmers of milk production.
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to women
Portfolio quality
+ Social responsibility to the environment
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use
Per capita household expenditure	1
Per capita household income