Supporting jobs and economic and financial inclusion 2025

Boosting microfinance in Albania

Albania faces ongoing socioeconomic challenges, including high unemployment, a large informal economy and regional economic disparities. Despite steady economic growth driven by tourism, remittances from abroad and consumer spending, poverty remains a concern, especially in rural areas. Microenterprises could help address these challenges, notably by creating employment, but they often struggle to access financing. Banks are reluctant to lend to MSMEs, particularly in the agriculture industry. Non-bank financial institutions like microfinance institutions help bridge the gap, but financial inclusion, especially in rural areas, remains a major challenge for lasting, inclusive, growth.

A €10 million loan to Fed Invest, one of Albania’s largest financial cooperatives, backed by a guarantee from the CEB’s Social Impact Account (SIA), aims to address these challenges, by providing access to finance for around 3 000 micro-enterprises and farms, contributing to the creation of at least 250 jobs. To facilitate gender empowerment, a minimum of 35% of the funds will be allocated to women entrepreneurs. Additionally, a €49 000 technical assistance grant from the Slovak Inclusive Growth Account will support Fed Invest’s financial literacy services for inhabitants of rural areas, with a focus on ensuring the inclusion of women.

Overcoming financial barriers for MSMEs in the Czech Republic and the Slovak Republic

High borrowing costs and economic uncertainty have contributed to a slowdown in small and medium-sized enterprise (SMEs) investments across the EU, according to the European Investment Fund’s Small Business Finance Outlook. In the Czech Republic, the SME financing environment ranks among the least favourable in the EU, while the Slovak Republic faces similar structural and economic limitations.

A €150 million loan to SG Equipment Finance Czech Republic (SGEF CZ), which specialises in assisting the small business sector, is financing productive investments in MSMEs across the Czech Republic and the Slovak Republic. By targeting smaller businesses in less developed regions, the project aims to address longstanding financial barriers, while promoting job creation and economic inclusion. The loan also co-finances the modernisation of public infrastructure, including investments in public transport and essential healthcare services. These investments, led by local authorities and service providers, aim to encourage more balanced territorial development, support a just transition to a low-carbon economy and reduce pressure on public budgets. SGEF CZ’s financial obligations are fully guaranteed by its parent company, Société Générale S.A., France.

©CEB 2026