The government of Albania recently announced that fondiBesa, a Tirana-based lender to micro-, small and medium-sized enterprises, has agreed to acquire the local arm of US-based nonprofit VisionFund for an undisclosed sum.
For 2015, fondiBesa reported to the US-based nonprofit Microfinance Information Exchange (MIX) that it had total assets of USD 69 million, a gross loan portfolio of USD 50 million and 30,000 active borrowers served through 68 locations. For the same year, VisionFund Albania reported total assets of USD 2.3 million, a gross loan portfolio of USD 2.2 million and 1,800 active borrowers served via 3 branches. Neither institution accepts deposits.
VisionFund operates microfinance institutions with an aggregate loan portfolio of USD 535 million outstanding to 1.2 million borrowers in 30 developing countries as of 2016. The organization is an affiliate of World Vision, a US-based Christian organization with 2015 revenues of USD 1 billion.
Sources and Additional Resources
Albanias Microfinance Institution Besa Fund Acquires VisionFund Albania
FondiBesa (Besa Fund)
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