Speeches Shim
USAID, the Embassy of Sweden in Tirana, and the Center for Economic and Business Education (CEBE Albania) are implementing a $1.435 million, 32-month project, which will establish a Tourism Investment and Finance Fund in Albania. The Fund will be a multi-partner, member-owned, nonprofit financial association that will provide capital and technical assistance to MSMEs operating in Albania’s tourism sectorThe Fund will concentrate efforts to develop the agro-tourism and eco-tourism communities in rural, and natural and protected areas.
In July 2013 USAID and YSB Global Initiatives signed an MOU to enter into public-private partnerships demonstrating mutual commitment to promptly and proactively work together to further the shared goals in various countries. The key objectives of the partnership in Albania is to promote entrepreneurship and the development and growth of social businesses that effectively address the needs of low-income, vulnerable and under-served communities; develop sustainable incubation services and investment approaches that effectively support the above goal; and engage a wide range of additional organizations in the private, public and non-profit sectors in the advancement of social business and other innovative approaches to fostering high impact entrepreneurship.
SmartCapital aims to boost economic growth through access to finance and smart technologies to SME entrepreneurs. The 3-year program will mobilize a significant contribution of resources on a 1:3 basis, through innovative and market-based solutions. SmartCapital interventions will be country-wide with attention to rural and under developed areas. Growth oriented services will be delivered through sustainable practices and a wide network of partners and beneficiaries.
USAID seeks to strengthen Albania's financial sector stability and increase public confidence in the banking system in order to stimulate private sector growth, foreign direct investment, and job creation. Through this project, USAID activities build the Bank’s capacity to manage risks in the financial sector and within financial institutions, and enable the Financial Supervisory Authority to build capital markets as a source of non-bank finance for the private sector.
USAID places a strong emphasis on integrating youth considerations as a crosscutting factor in all our programming. USAID uses the term youth and young people interchangeably and while youth development programs often focus on youth in the 15 to 24 year age range, USAID programs also are likely to engage individuals aged10-29 as a broader youth cohort. In Albania, USAID projects seek to improve the capacities and enable the aspirations of youth so that they can contribute to and benefit from more stable, democratic, and prosperous communities. Our programs allow Albanian youth to be better able to access economic and social opportunities, fully participate in democratic and development processes, play active roles in civil society, and have a stronger voice in, and are better served by local and national institutions.
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