TIRANA, May 2 /ATA/- Micro-finance institutions in the country are looking into the possibility of restructuring the credit for business and individuals, their creditors in financial distress due to COVID-19 situation.
In the light of the European Commission Program on Technical Assistance in Employment and Innovation, the institutions of Albanian Microfinance organized the webinar “Albanian Microfinance amid the pandemic conditions,” where they discussed the efforts that need to be made to address thousands of requests for credit restructuring and deferral of installment payment due to the COVID-19 situation.
27 representatives at the management levels of microfinance institutions, participants in the webinar, shared their experiences and valuable suggestions regarding the measures taken to manage this difficult situation, both administratively and financially, especially due to the lack of liquidity as a result of COVID -19 restrictions.
Institutions of micro-finance play a pivotal role in lending to rural sector which lacks the access to bank financing. Therefore, the farmers are the bain beneficiaries of credit restructuring.
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