At the Investment Council meeting for the presentation on “Access to Finance for Micro, Small, and Medium Enterprises (MSMEs) and Recommendations for Improving Financing Instruments,” where the main challenges faced by these enterprises in Albania were discussed.
The session focused on the importance of access to finance for economic development and the promotion of entrepreneurship. 💼📈
During the meeting, Ms. Sabi Osmani, Executive Director of the Women’s Economic Chamber, shared the suggestions and experiences of member women from the focus group held three weeks earlier. Ms. Osmani presented recommendations for improving credit guarantee schemes and supporting women-led businesses, promoting a more equitable and sustainable climate for economic development. 🤝🌱
During the discussions, the following were highlighted:
● Initiatives to develop the regulatory framework for the establishment of Private Credit Bureaus.
● Difficulties in securing financing for MSMEs, including high requirements and bureaucratic procedures 🏦📑
● The need to improve financial literacy in the private sector 💡💰
● The potential of digitalization to accelerate banking processes and credit assessment 💻⚙️.