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“Empower Her Financially”

USAID CATALYZE Supports Women-led Businesses in Albania

In the Western Balkans, Albania is witnessing remarkable economic growth propelled by foreign investment, infrastructure development, and a thriving tourism sector. Despite this positive trend, women-led businesses encounter uneven opportunities. As in many Western Balkans countries, women-led businesses in Albania tend to be smaller, concentrated in the services sector, and often constrained by factors such as limited networks and historical gender biases.

While there is a growing recognition of the untapped potential of women-led small and medium-sized enterprises (W-SMEs), the conventional banking sector often leaves many W-SMEs underserved due to reliance on traditional evaluation criteria and products.

Pranvera Guxho, Senior Business Development Consultant at CBS, speaking at USAID CATALYZE Engines of Growth regional learning event in Belgrade, Serbia. Photo credit: USAID CATALYZE

In response, USAID CATALYZE Engines of Growth in the Western Balkans collaborates with local partners like the business advisory service provider Creative Business Solutions in Albania. Together, they implement the Catalyze Alternative Financing for Entrepreneurs (CAFÉ) project, aimed at fostering financial innovation and supporting W-SMEs. Through CAFÉ, tailored financial solutions, such as green financing, solar leases, and convertible bridge loans, are developed in collaboration with banks and financial institutions.

“In the Western Balkans, there is a huge gap between the financing the SMEs need and the financing they receive. There are not enough innovative alternative financing product instruments in the market. The banks want to invest in companies that are highly structured, but SMEs are not yet there. This is why we launched CAFÉ. We looked at three different components: the supply, the demand, and the connection between that supply and the demand. And CAFÉ is the bridge over that gap,” said Enio Jaco, CEO of Creative Business Solutions.

At the heart of the CAFÉ is the “Empower Her Financially” program, which provides comprehensive support to women entrepreneurs, addressing their specific needs in financial, operational, and social aspects. In collaboration with financial institutions (FIs) in Albania, gender-tailored products and services are designed to better meet the needs of women entrepreneurs and support their growth. Women-led businesses are analyzed as a separate and specific segment of the market. CBS then presents those that are excellent businesses cases to secure the more favorable loan conditions possible. The program brings additional benefits as well.

“Our program is designed to empower women entrepreneurs through partner financial institutions, by offering a comprehensive package that combines a loan with other essential products, including a package of current account, e-banking, and debit cards,” said Pranvera Guxho, Senior Business Development Consultant at CBS. “Beyond financing, the program supports business growth through training, marketing assistance, and other products such as savings accounts for their children. This holistic approach not only addresses immediate financial needs but also provides long-term support and much needed non-financial services for women entrepreneurs.”

“We tried to match the needs of this market segment [W-SMEs] with what financial institutions can offer, emphasizing that financing W-SMEs is not only the right thing to do but also a great business opportunity for FIs due to proven W-SMEs’ good risk profile.”

— Pranvera Guxho, Senior Business Consultant, CBS

The CBS “Empower Her Financially” and similar programs are about inspiring women and helping them overcome the often overseen “invisible” gender barriers. The programs also encourage financial institutions across the Western Balkans to introduce positive practices, such as “women champions” to inspire fellow businesswomen to grow in the business world.

So far, the impact of the interventions through CAFÉ is significant, with 246 SMEs benefitting from a total investment of $11.8 million, notably 238 W-SMEs received $10.8 million in funding.

By tailoring financial products, fostering collaboration, and incorporating a comprehensive approach, CAFÉ and USAID CATALYZE are supporting women entrepreneurs and unlocking the vast potential of W-SMEs.

Source: Medium.com

NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri – Një Zgjidhje FinTech nga USAID dhe CBS

Agjencia e Shteteve të Bashkuara për Zhvillim Ndërkombëtar (USAID) në bashkëpunim me Creative Business Solutions

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    In July 2022, CBS announced that is developing a major upgrade of LORES, its loan referral application system.

    LORES+, a Fintech Solution
    to Connect Entrepreneurs with Banks

    In July 2022, CBS announced that is developing a major upgrade of LORES, its loan referral application system. LORES connects business customers with banks – to get access to finance – through a secure, technically professional loan processing system. The updated platform, called LORES+, will feature a number of innovations. One of the biggest changes, is that LORES+ will now offer an open-platform to SME customers who can apply directly to the system. (The previous version maintained a closed B2B environment). LORES+ will also feature a matching algorithm, to ‘pair’ the business demand with offers from Financial Institutions. SMEs will be now able to apply online for a loan in under 90 seconds and get matching with the best funding option through its proprietary system algorithm. Business owners can also choose from a variety of financial products, that LORES+ will host, through a special agreement with Financial Institutions. Banks have embraced LORES because it saves time for their loan officers. The quality of loan applications has also high - with an estimated 1% NPL rate – allowing banks to lower the credit risk. SMEs in Albania or Western Balkans (WB) in general, struggle to get funding for investments. They produce 80% of GDP but receive only 35% of financing. 83% of business owners also believe the loan application process presents is a big challenge. LORES aims to close this gap, by creating a fintech platform that seamlessly connects businesses with banks, through a secure environment. LORES has enabled 457 business customers to receive $15 Million in funding; another $22 Million is in process. LORES maintains a cooperation agreement with 9 of the largest Financial Institutions in Albania. LORES is a developed through a partnership between USAID and CBS. The first prototype was launched in 2016. After its successful launch, CBS and USAID joined forces again in 2022 to expand into LORES+, a more advanced platform. In addition to Albania, LORES+ is expected to launch in Kosovo and North Macedonia by 2023.

    “Empower Her Financially”

    USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

    NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

    Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

    USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

    18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

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      CBS Expands its Services

      New Solutions
      to Future Challenges

      • CBS’s new identity builds upon the company’s model of innovation and business growth services.

      • CBS’s new identity builds upon the company’s model of innovation and business growth services.

      1 min read

      CBS Expands its Services
      New Solutions to Future Challenges

      “The new dynamic will create both threats and opportunities to existing businesses. We want to ensure that our clients adopt to threats and capture those opportunities” says Enio Jaco, CEO of CBS.

      25 January, 2021

      The Company has set up a New Active Unit.

      Creative Business Solutions (CBS) has expanded and adapted its services by offering solutions that respond to the new normal created by the Covid 19 pandemic. After seven years of experience in implementing successful projects that integrate and develop businesses, the company changed its philosophy. In January 2021, CBS embarked on a transformation process in delivering sustainable solutions directly to businesses. The change focuses on the provision of new Consulting services including increased Access to Finance and the advancement of Technology, Innovation and Digitalization over strategic development sectors; Agriculture, Banking System, Financial Institutions and Tourism.

      “The focus of CBS will be consulting services that helps our clients become successful in the new operating environment set by COVID-19. The new dynamic will create both threats and opportunities to existing businesses. We want to ensure that our clients adopt to threats and capture those opportunities” says Enio Jaco, CEO of CBS.

      The reorganization of Creative Business Solutions envisages the extension of services to the countries of the Western Balkans, starting with Kosovo and Northern Macedonia, with the prospect of further expansion in the region.

      CBS Network Expansion and Team Coordination

      The transition phase brought changes and a new structure of CBS’ human resources. During the process, the CBS team underwent both professional training and ongoing communications on consultancy consolidation and the new way of delivering services. In support of the process, the company has set up a new active unit which is holding field meetings as well as ongoing communication with businesses in strategic sectors. The new network of this structure consists of 10 field service agents, 20 external experts from the financial sector and alliances from third parties. The company has entered into partnerships with international companies with experience in technology services, digitalization and financial consulting. About CBS and its Impact CBS, Creative Business Solutions was established in 2012 as a business consulting organization to provide advice and solutions to local businesses, organizations, donors and Financial Institutions. CBS has successfully implemented 18 large projects with a combined $7.8 million budget with multiple international donors in Agriculture, Finance, SME development as well as Tourism. The company facilitated a total of $88million in financing for over 400 Albanian SME’s, generating a total of $56.6 million in investments, $43.3 million in new revenues and 2472 new jobs through project implementations.

      “Empower Her Financially”

      USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

      NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

      Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

      USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

      18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

      Contact Us

        New Identity, New Culture
        New Communications tools

        CBS 2.0: Focus on
        Clients and Partners

        • CBS’s new identity builds upon the company’s model of innovation and business growth services.

        • The improvements symbolize commitment to clients but also opens new doors to the future.

        2 min read

        CBS New Identity
        Reflects Company's Focus
        on Clients and Partners

        All in, the changes symbolize an organization that reinvents itself staying very committed to its clients.

        Nov.21 2021

        Cheerful, Optimistic and Smart.

        Creative Business Solutions reveals a new brand identity, combining together dynamic communication tools and a new culture inside the company. The change reflects empowering services, a close approach to clients, and a comprehensive consulting model to evolving businesses.  

         

        Over the years, CBS has built a strong reputation on creating solutions to business growth. Now the company makes a new move - with a new look, representing a commitment to innovation and the company’s role, and purpose of powering better solutions to its clients, partners and all the business range.

         

        The improvements started during the mid-year and now are live in public including a fresh brand and identity, logo, an icon and the tagline: We Deliver Growth! Together with the brand refreshment, CBS has new communication channels in a new website, social media and a new working culture.

        At large, the changes symbolize an organization that reinvents itself staying very committed to its clients. The new identity builds upon its model of continued innovation and business growth services, but also opens doors to the future goals and achievements.

        The core elements of CBS changes include:

         

        New Culture Inside Out: The culture reflects the company’s DNA. It embodies ideas, customs, and social behavior of people that work in freedom and responsibility building a talent density, being candid by giving a lot of feedback and innovating continuously with customers.

        Logo and Iconography: Both logo and icon are authentic, cheerful, optimistic and smart. The logo is complemented by a combination of three letters c, b and s, each representing CBS services and visually forming a dynamic, colorful and playful Spiral of Growth.

        The Slogan: “We Deliver Growth” is inspired and created by the CBS’s people. It communicates the final result that the company provides to its clients emphasizing the 'main goal: Business Growth and Development.

        Brand Colors: CBS identity is represented by fresh colors. Dark blue, green and white as basic symbols signifying the CBS values ​​with its customers. A complementary color palette represents each service. Green for enterprise development, yellow for financial services, blue for digital services transformation, pink for dynamic marketing and sales models.

        Dynamic Communications: CBS shows particular importance to customer communication and is located everywhere close to customer service. We communicate, at any time and place, as our business advisors are available for any request or advice from clients. You can find CBS on social networks, Facebook, Instagram, LinkedIn and in the dedicated line of clients at www.cbs.al.

        About CBS

        CBS, Creative Business Solutions was established in 2012 as a business consulting organization to provide advice and solutions to local businesses, organizations, donors and Financial Institutions. CBS has successfully implemented 18 large projects with a combined $7.8 million budget with multiple international donors in Agriculture, Finance, SME development as well as Tourism. The company facilitated a total of $88million in financing for over 400 Albanian SME’s, generating a total of $56.6 million in investments, $43.3 million in new revenues and 2472 new jobs through project implementations.

        “Empower Her Financially”

        USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

        NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

        Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

        USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

        18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

        Contact Us

          USAID and CBS Promote

          14 Albanian companies
          among the producers
          of the Region, Europe and Asia

          • Albanian companies meet the conditions to compete in regional markets.

          • The largest international fair for fruit, vegetables and wines in the region.

          3 min read

          14 Albanian companies
          among the producers
          of the Region, Europe and Asia

          "The interest of regional buyers for Albanian products is growing." In Belgrade, where the largest fair of fruits, vegetables, honey and wines is taking place, Resmi Hatija, administrator of Hatija sh.pk, Albanian manufacturer is negotiating with potential foreign buyers to export its products to international markets. He says that thanks to this activity, the interest of many foreign buyers is awakening.

          28 January, 2022

          With the support of USAID and CBS, Creative Business Solutions as an implementing partner, 14 Albanian companies are competing with manufacturers in the region, Europe and Asia with their products in Agro-Belgrade. This is the main international fair and conference for the production of fruits, vegetables and wines in Serbia and region. Agro Belgrade's for business development has been supported by the Ministry of Agriculture, GIZ, USAID and CBS. The Minister of Agriculture, Frida Krifca visited the Albanian producers at the fair together with the counterpart ministers of Serbia and the region. The minister offered support for the creation of new areas of cooperation to position the albanian products in international markets.

          Quality and Standard Competition Albanian producers present at the Fair, compete with quality and standards, which are supported by USAID assistance and provided by CBS. Our products offer not only good taste but also standards and quality, they are equipped with the Global G.A.P certificate and meet the conditions to compete with dignity in regional markets and beyond, said Resmi Hatija. His company collects agricultural products, as well as by processing and storing them in refrigerated facilities, and packaging of agricultural chain products as well as import-export of agricultural products. The main focus of the company is the collection and trading vegetables. For this reason, Hatija shpk has established a good network with farmers in the area to buy their products and market it. The main products that the company sells are: fruits and vegetables of the area where it operates. 500 participants from the Balkans, Europe and Asia More than 500 exhibitors from Serbia, Bosnia and Herzegovina, Montenegro, Croatia, Slovenia, Bulgaria, Romania, Italy, the Netherlands, Greece, Germany, Turkey, India and Ukraine have participated in the trade fair. In addition to product exhibitions, Agro Belgrade also organizes specialized conferences on current issues in agriculture and the food industry. Regional companies can take advantage of Agro Belgrade's opportunities such as connecting with globally reputable partners and buyers. At Agro-Belgrade, traders and buyers can get in touch with producers from the fast growing region. Agro Belgrade is a place where producers and global partners can learn everything they need to know about fruits, vegetables and wine production on this part of Europe. The fair will continue the works for another two days, continuing to provide opportunities for Albanian producers and connections with potential foreign buyers.

          “Empower Her Financially”

          USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

          NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

          Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

          USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

          18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

          Contact Us

            Së shpejti nis IPARD III

            IPARD III – 225 Milionë Euro
            për 1700 Fermerë

            • CBS fton Fermerët dhe Agropërpunuesit të bëhen pjesë e granteve

            • Investimet do të gjenerojnë një rritje në Bujqësi prej 30.9 milionë euro

            3 minuta lexim

            IPARD 3 - 225 Milionë Euro për 1700 Fermerë

            Do të krijohen 2558 vende të reja pune dhe 2558 vende të tjera do të ruhen në bujqësi dhe agropërpunim, e barabartë me 1.1% të fuqisë punëtore në të dy sektorët

            28 Tetor 2021

            Mbështetje për 1700 Fermerë dhe Agropërpunues.

            Sipas revistës Monitor, një vlerësim i pavarur i cili i paraprin programit IPARD
            III ka nënvizuar se autoritetet shqiptare duhet të punojnë më shumë në drejtim
            të transparencës si dhe të analizimit të mundësive, risqeve, pikave të forta
            dhe të dobëta.

            Kompania Ecorys Croatia mori në analizë gjatë periudhës qershor-gusht
            programin e Zhvillimit Rural të vendit për vitin 2021-2027, nën IPARD III, duke
            dhënë edhe këshillat se ku duhet të jetë fokusi.

            “Një çështje me rëndësi është transparenca. Grupet e interesuara kanë pohuar gjatë intervistave se transparenca e vendimeve në lidhje me kontraktimet, pagesat dhe refuzimet kanë qenë të jo të kënaqshme nën IPARD II dhe se priten përmirësime për periudhën e ardhshme të programit” thuhet në dokumentin e bërë publik nga Ministria e Bujqësisë dhe Zhvillimit Rural.

            Në vlerësimin e përgjithshëm kompania ka nënvizuar se stili i dokumenteve,
            faqosja dhe anglishtja e përdorur në program nga pala shqiptare janë
            modeste por përshkrimi i masave është përgjithësisht i mirë. Gjithsesi
            përmirësimet e tekstit dhe shpjegimeve mund të çojnë në qasje më të mirë të
            masave.

            “Nivelet maksimale të kostove totale të pranueshme të investimit për masën 1
            dhe masën 3 dhe niveli maksimal i dyshemesë së investimeve për përfituesit
            janë shumë të larta dhe mund të kufizojnë shpërndarjen e burimeve te
            fermerët dhe agropërpunuesit më të vegjël dhe më të dobët. Strukturat
            zbatuese janë përshkruar mirë dhe janë të vendosura për të lehtësuar
            zbatimin efektiv të programit.

            Megjithatë, mund të ndërmerren hapa për të rritur efektivitetin në AZHBR dhe për të përmirësuar transparencën e
            vendimeve të marra në AZHBR. Rekrutimi i stafit për vendet e lira të punës në
            AZHBR dhe Ministri ende nuk është kryer për të mbështetur zbatimin, por
            proceset e rekrutimit kanë filluar. Trajnimet i stafit janë kryer intensivisht dhe
            janë planifikuar edhe për stafin e ri.” thuhet në dokument.

            I njëjti vlerëson se ka disa mangësi sa i takon regjistrave ku ai i fermave nuk
            është ngritur ende kurse ai për kafshët nuk përditësohet rregullisht.
            “Megjithatë, MBZHR ka ndërmarrë hapa për t’u siguruar që regjistrat të jenë
            funksionalë kur programi të jetë gati për t’u hapur. Përfshirja e palëve të
            interesuara në procesin e programimit ka qenë e mirë, por nuk është
            përshkruar në mënyrë të përshtatshme në tekstin e programit” thuhet në
            vlerësimin paraprak.

            Sipas përmbledhjes programi IPARD III me 225 milionë euro parashikon
            investime publike dhe private dhe mbështetje për 1700 fermerë,
            agropërpunues dhe banorë ruralë si dhe mbështetje me 15 mijë shërbime
            këshillimore për sektorin.

            “Investimet do të gjenerojnë një rritje të Vlerës së Shtuar Bruto(VSHB) në
            bujqësi dhe agropërpunim prej 30.9 milionë euro e barabartë me 1.16% të
            VSHB-së së bujqësisë dhe agropërpunimit në total.

            Do të krijohen 2558 vende
            të reja pune dhe 2558 vende të tjera do të ruhen në bujqësi dhe
            agropërpunim, e barabartë me 1.1% të fuqisë punëtore në të dy sektorët. Së
            fundi, investimet në infrastrukturën rurale do të kontribuojnë në përmirësimin e
            kushteve të jetesës në zonat rurale dhe mbështetja e investimeve në pylltari,
            bujqësi organike dhe racat lokale të rrezikuara do të sjellë përfitime nga
            biodiversiteti në këtë sektor” thuhet në dokument.

            “Empower Her Financially”

            USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

            NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

            Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

            USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

            18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

            Contact Us

              300 Partners Participated

              CBS Launches 5 Digital
              Platforms on 5th Anniversary

              • Impact growth for 3,000 businesses. 43 million USD new revenues.

              • The digital products set up by CBS and its partners.

              2 minutes read

              CBS Launches 5 Digital Platforms on 5th Anniversary

              “We are open to sharing these products with everyone that is interested in increasing investment in their business activities”

              Sep. 26 2019

              The Most Crucial Moment of CBS in 5 five years.

              Creative Business Solutions (CBS) held its first annual event entitled ‘Growth Together’. The event was aimed at the introduction and launch of five innovative digital platforms designed by CBS as a connecting bridge for businesses and joint enterprises. The event was attended by 300 participants, including some of CBS’s strategic partners from USAID, EU, World Bank, GIZ, SIDA, and others.

              Also in attendance were high ranking officials from second tier banks, financial institutions, experts, donors, investors and bankers keen to strengthen partnerships and take advantage of these platforms for further business development and additional projects.

              These digital products set up by CBS and its partners have had an impact on the growth of 3,000 businesses with a revenue capital of 43 million USD or 100,000 USD in revenues for each of the partner businesses. Furthermore, the products have boosted investments and delivered new job openings aimed at sustainable development for these companies.

              In his remarks, the founder and CEO of CBS, Enio Jaço, welcomed all participants and underlined the importance of partnerships in such projects.

              “This is one of the most crucial moments that our organization has witnessed in the last five years. We are not here to give a presentation of our products. We are here today to launch cooperation and partnerships for the future. Our platforms are already active and this represents a major change for CBS. We began by designing products that offer sustainable solutions. Today we are open to sharing these products with everyone that is interested in increasing investment in their business activities” he said.

              The platforms were presented by the managers who were part of their creation and who supervise the daily activities as well as deliver new ideas for expansion.

              “Empower Her Financially”

              USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

              NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

              Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

              USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

              18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

              Contact Us

                USAID and CBS Partnership

                Farmers and Agribusinesses
                Access to European Standards

                • The SmartCapital project provided access to finance for enterprises.

                • Three priorities for continuing the support of the business community.

                3 minutes read

                $59 million in New Investments and
                1,500 New Jobs created in Agriculture

                Mikaela Meredith, USAID representative in Albania: “Looking to the future, undoubtedly, there are other people, businesses, and marketplaces that could benefit from the SmartCapital experience and build on what you’ve accomplished"

                April 21. 2021

                USAID and CBS Partnership

                The United States Agency for International Development (USAID) and Creative Business Solutions (CBS) organized a virtual event to mark the conclusion of the 5-year SmartCapital Project. International and domestic implementing partners and direct beneficiaries of the project participated in this event.

                Over the five years of its implementation, the project assisted 1,000 agribusinesses to secure $59 million in new investments and led to the opening of 1,500 new jobs.

                The project enabled access to financing for farmers and agribusinesses, technical assistance in obtaining modern technologies, the use of digital platforms to facilitate crediting and identification of international markets, and the certification of Albanian products in line with international standards.

                Mikaela Meredith, USAID representative in Albania spoke about the strong partnership and the unwavering support of the US government for Albania, while noting that the successful implementation of SmartCapital leaves behind a valuable legacy that will continue to support growth in the agricultural sector.

                “Looking to the future, undoubtedly, there are other people, businesses, and marketplaces that could benefit from the SmartCapital experience and build on what you’ve accomplished. I understand that Creative Business Solutions is looking to introduce a private equity fund to the entire region. Good luck with this new chapter and your future endeavors!

                 

                “Hand in Hand” is a saying we often use in the United States in the context of partnership.  USAID works with you because we view U.S. investments as catalysts that can be used to mobilize governments, international organizations, foundations, and businesses to help countries plan, finance and implement their own development goals. And over the years the SmartCapital project has come to emulate this approach”, said Meredith.

                CBS Executive Director and President of the American Chamber of Commerce in Albania, Enio Jaço state that bringing the agriculture sector business community closer to European standards and strengthening trade relations between the U.S. and Albania, were major priorities for the SmartCapital project.

                “Albania is making progress on its path to the European Union and is developing strong economic relations with the United States. This was the goal of the project 5 years ago. We wanted to bring Albanian farmers and agribusiness closer to European standards.  We will continue our work with the sustainable platforms and services that have been created, and which are achievements of this project,” stated Jaço.

                In this context, Jaço informed the participants on three key pillars on which support for the business community will continue: Consultancy Services will continue to be provided to support the business community with technical assistance. Secondly, Digital Platforms will bring financial institutions closer to the agribusiness community and enable the sale of agricultural produce in international markets through e-commerce, while on the other hand, the first Private Equity Fund in Albania will create opportunities for entrepreneurs to obtaining financing outside the banking sector.

                Over the project implementation period, CBS, USAID’s partner, developed two digital platforms to facilitate crediting for farmers. LORES connects farmers to banks and facilitates the crediting of the agriculture sector, while Agro Trade is the first e-commerce platform in Albania enabling the export of Albanian products to international markets.

                International banking sector expert and SmartCapital project implementation partner, Serge Guay stressed the importance of employing financial technology products for SME development in the country, as a necessity driven even more by the situation created by the Covid-19 global pandemic.

                “Consultancy services and the digital platforms developed by CBS under the SmartCapital project proved their efficiency during the pandemic. Electronic loan processing allowed SMEs to easily obtain loans even during the lockdown, since it was not necessary to go to the bank and everything was done online.  On the other hand, these digital platforms are an inspiration for the banking sector and I foresee beneficial and closer cooperation in the future between the business and the banking sector, helped along by relevant brokerage services” said Guay.

                A video showcasing the SmartCapital project and its impact on the Albanian agriculture sector was also shown during the event.

                The Albanian Equity Market Initiative   

                Gavin Ryan, World Bank expert on private equity funds and SmartCapital consultant was also a guest of the event.

                Ryan discussed the importance of small and medium businesses in Albania and the further development and consolidation potential for these businesses through the introduction of alternative financing opportunities, such as the one provided by the private equity market.

                “In addition to providing capital for the company, the benefits of private equity ownership in a SME, is that it brings SME closer to banks providing access to loans and establishing credibility, since the SME management level and quality have improved.

                 

                This is what a private equity fund brings to the table, and such fund does not exist in Albania. When considering countries like Croatia, Slovenia, Bulgaria, and Romania that have benefited from the establishment of such funds, it is clear that it is time for this to happen in Albania, as well.

                 

                I believe the conditions are very good. EU accession and the strong connection with Italy, the enhancement of relations with other countries in the world, such as the United States, and the role of the Albanian diaspora could have a very positive effect in the private equity market.

                 

                With regard to the establishment of the private equity fund in Albania, CBS can provide its knowledge of the SME market and the methods and reliability it has been able to develop with the broad business community. Its SME database and knowledge of the market will allow private equity investors to be more efficient in their work,” noted Ryan.

                “Empower Her Financially”

                USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

                NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

                Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

                USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

                18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

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                  Drejtori Ekzkeutiv i CBS

                  Enio Jaço rizgjidhet
                  President i AmCham Albania

                  • Zhvillohen zgjedhjet për lidershipin drejtues në Asamblenë e Përgjithshme.

                  • Dhoma Amerikane zhvillon zgjedhjet për lidershipin drejtues në Asamblenë.

                  Lexo ne 1 minute

                  Drejtori Ekzekutiv i CBS, Enio Jaço rizgjidhet President i Dhomës Amerikane

                  “Praktika Transparente dhe Konkurrencë të Lirë duke mbështetur zhvillimin e gjithanshëm të ekonomisë dhe mundësive për bizneset përmes integrimit në një treg të përbashkët europian dhe transatlantik”

                  13.Tetor.2021

                  Zgjedhjet për Lidershipin Drejtues.

                  220 kompanitë anëtare të Dhomës Amerikane, me një peshë të rëndësishme në komunitetin e biznesit multinacional në Shqipëri besuan Drejtorin Ekzekutiv të CBS, Enio Jaço për vijimin e drejtimit të Dhomës në dy vitet e ardhshme.

                  Dhoma Amerikane zhvilloi mbrëmjen e së mërkurës 13 tetor 2021 zgjedhjet për lidershipin drejtues të saj në Asamblenë e Përgjithshme ku anëtarët votuan për të dytin vit radhazi përmes risisë së votimit elektronik online.

                  Në një mesazh drejtuar anëtarëve të Dhomës publikuar në rrjetet sociale të AmCham, Jaço u shpreh

                  “Dhoma Amerikane e Tregtisë do të vijojë të punojë me komunitetin e saj të biznesit si dhe partnerët lokalë dhe ndërkombëtarë për të ofruar zgjidhje që teklajojnë sfidat e klimës së biznesit. Përmes AmCham, zëri i bizneseve do të jetë i fortë për Praktika Transparente, Drejtësi në vend të pabarazisë dhe Konkurrencë të Lirë duke mbështetur zhvillimin e gjithanshëm të ekonomisë dhe mundësive për bizneset përmes integrimit në një treg të përbashkët europian dhe transatlantik”.

                  Enio Jaço është Ekzekutiv Biznesi me një ekperiencë të thelluar profesionale në rritjen e sipërmarrjeve dhe zhvillimin ekonomik, në SHBA, Azi Qendroredhe Ballkanin Perëndimor.

                  Në dy vitet e fundit, Jaço ka denoncuar publikisht praktikat abuzive që pengojnë klimën e biznesit ndërsa ka orientuar bashkëpunimin e ngushtë të Dhomës Amerikane me Dhomën Departamentin Amerikan të Shtetit të Tregtisë duke ofruar modele bashkëkohore në mënyrën e të bërit biznes.

                  Në fjalën e tij ne Asamblenë e Përgjithshme, Jaço theksoi se në 2 vitet e ardhshme fokusi do vendoset në një bashkëpunim më produktiv mes Qeverisë dhe institucioneve publike nga njëra anë dhe sektorit privat, për të përfituar më shumë nga lëvrimi i mundësive ekonomike.

                  “Empower Her Financially”

                  USAID CATALYZE Supports Women-led Businesses in Albania In the Western Balkans, Albania is witnessing remarkable

                  NGA LORES – Si u Krijua LORES+ Sistemi i Parë i Referimit të Kredive në Shqipëri

                  Një nga sfidat që bizneset hasin më shpesh është pikërisht sigurimi i financimit për investimet

                  USAID and CBS Launch LORES+, a Fintech Solution for SME Financing in the Western Balkans

                  18 May 2023, Tirana, Albania   The United States Agency for International Development (USAID) has

                  Contact Us