The Development Facility of the European Fund for Southeast Europe (EFSE DF) together with the Netherlands Ministry of Foreign Affairs and Rabo International Advisory Services (RIAS) have confirmed their commitment to facilitate FED Invest's transformation to a leading financial institution for rural areas and enterprises. EFSE DF will cover part of the costs of a multi-year capacity building plan to reach the objective of fostering economic development and improving the standard of living in Albania's rural areas.
FED Invest – formerly known as Albanian Savings and Credit Union (ASCU) – is a financial service provider which was set up through the merger of 70 savings and credit associations (SCA) that have been serving local farmers since 1992.
The EFSE DF began supporting the ASCU in its transformation in 2014. Since then the institution has successfully grown both in terms of membership and geographical coverage, it now covers 1,080 villages and about one third of rural Albania.