TIRANA, March 25/ATA/- Albania’s microfinance institutions have disbursed about 155 thousand small consumer loans during the last year.
According to the official data published by the Bank of Albania (BoA), the total microfinance system increased to ALL 11.9 billion on an annual basis.
Microfinance plays an important role in funding farmers and small businesses in rural areas, while the growth of consumer credit has a major impact on the country’s economy.
Meanwhile, in the microfinance system about 71.4% of its assets are loans. While 83% of the total deposits at these institutions are in local currency.
Currently, the Bank of Albania has licensed 14 microfinance institutions. //a.i/
