Tirana, November 22, 2024_As part of the Global Entrepreneurship Week 2024, organized by Start Up Albania Agency, the Italo-Albanian Program in Support of Small and Medium-Sized Enterprises (SMEs), funded by Italian Agency for Development Cooperation, held a workshop focusing on infrastructure investments and SMEs financing. The event, which took place on Friday, November 22nd in Tirana, brought together high-level representatives from the Albanian government and the private sector. Among the attendees were the Director of the Italian Agency for Development Cooperation – Tirana Office, Stefania Vizzaccaro, Head of Corporate and SME Division at Intesa Sanpaolo Bank, Alessandro Grillo, and Business Development Manager at Crimson Finance Albania Erjon Boja,.
This workshop addressed issues related to access to financing for SMEs, the promotion of best practices for their development, and strengthening investment infrastructure. Despite being a significant pillar of the Albanian economy, SMEs still face the need for both financial and regulatory support to improve their access to financing and enhance economic sustainability.
The discussions were focused on evaluating the progress and gaps in the investment’s ecosystem in Albania, the need for supportive policies and regulatory reforms, ensuring financial inclusion, and exploring alternative financing models such as microfinance, crowdfunding, venture capital, and loan guarantee funds.
Participants, including representatives of SMEs and young Albanian entrepreneurs, actively contributed with questions and suggestions, emphasizing the importance of such dialogue platforms and access to information. The event, moderated by Gavril Lasku, Director of the PRODAPS/IASME Program, served as a pivotal moment to strengthen cooperation among various sectors of the economy and to identify concrete solutions for the sustainable development of SMEs.
The workshop confirmed Italy’s commitment to supporting the development of SMEs in Albania, with the goal of creating an entrepreneurial ecosystem that brings Albania closer to the European integration process.
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Thanks to the PRODAPS/IASME programs funded by the Italian Government’s credit line for a total amount of 45 million euros, AICS Tirana has provided and continues to offer Albanian SMEs privileged access to three integrated financial instruments: a credit line with competitive interest rates on the national market, a guarantee fund, and access to technical assistance. Since the start of this program in 2009, 149 Albanian SMEs have been able to improve their production chains in both qualitative and quantitative terms, purchasing Italian-made machinery and training their staff on the most innovative technologies available in their respective fields.
The total investments made from the financed SMEs amount to 30.5 million euros.
