Cooperative microfinance in agriculture: analysis of outreach and financial sustainability of the Albanian Saving and Credit Union
2011
Lekocaj, J.
Microfinance is one of those small ideas that turn out to have enormous implications. It holds a big promise to generate income and employment and alleviate poverty in developing countries. Although there are some 3000 microfinance institutions serving more than 100 million clients around the world, it must be noted that the problem of financing agriculture is still very acute. Between 60-99 percent of rural households in developing countries earn a living from farming, even if it is rarely the only source of income for households. Establishing financial services in out-of-the-way areas with low population density, which lack basic infrastructure (roads, electricity, health centers, and the like), is truly a challenge. In this context, numerous initiatives in microfinance aimed at helping rural populations have become a source of hope for agricultural financing in developing countries. Financial innovation such as MFIs that operate in Albania obviously seem to provide plenty of potential for both assisting rural households to access financial resources to increase their wealth and improve their living standards as well as in the development of the long term sustainable rural financial market. This thesis aims to investigate the challenges that the Albanian Saving and Credit Union faces in delivering its financial services in the rural area; its outreach and financial sustainability, the economic and social impacts on the farmer's output and income, and what opportunities it creates for a better life.
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