Kickstart project signed MoUs with three partner MFIs, and they will have a special focus on Young Entrepreneurs

The Kickstart Project focuses mainly on young micro-entrepreneurs who start or have recently started their micro-business. The main aims are to offer them access to finances through loans from MFIs and to develop their knowledge and skills related to financial literacy (through dedicated trainings) and business management (through the business mentoring). 

The project works with partner MFIs in order for them to develop new dedicated loan products or to adapt existing products in order to offer access to finances for young entrepreneurs. This way young micro-entrepreneurs with mostly marginalized and/or migration backgrounds will have more financial service opportunities for their new micro-businesses and also to develop or expand existing self-employment activities. One of the main achievement of the Kickstart Project is signing MoUs with three biggest MFIs in Albania (BESA, NOA, and ASF) which disbursed 967 Loans (290 female) for a total of CHF 1 878 000 (during July - December 2022) from loan products dedicated or adapted for Young Entrepreneurs in order to offer more access to finances for this target group. 

All three MFIs, BESA, NOA, and ASF on the MoU signed with the project have taken the following commitments:

• MFIs will have a special focus on young entrepreneurs and offer them access to finances through loans.
• MFIs will create dedicated products or adapt existing loan products to provide access to finance through loans for young entrepreneurs.
• MFIs will share with Swisscontact information on the progress of the loan disbursed for young entrepreneurs.