Our social and environmental responsibility
Driven by its partners development strategies, Crimson Finance Fund Albania is a constant promoter of social and environmental responsibilities in the local enterprise market. Through a rigorous procedure proposed by NORFUND’s best practices, a standard-bearer in the implementation and execution of the strategies that consist in improving social and environmental parameters, CFFA applies qualitative and quantitative criteria that the client must respect and follow, and tracks them along the tenor of the financing to their fulfillment. The protection of the environment, the waste disposal and the working conditions of our clients are a key focus in achieving our social and environmental objective.
Supporting young entrepreneurs and their initiatives
Start-up businesses (less than 12 months of activity) in general, and especially those run by young entrepreneurs, face substantial problems in having access to finance in the local market. Different financial institutions pursue very rigid policies by seeking urban real estate collateral that exceeds the value of the financing required by the business, charge interest rates that exceed 25%, or often do not consider start-up businesses as potential clients at all.
Unprecedently in the Albanian financial market, more than 1/3 of CFFA’s portfolio today consists of Start-ups, thus fulfilling one of our shareholders key missions, the access of this business segment to finance. In addition to financing, CFFA offers free consulting to its start-up clients in terms of financial, fiscal and strategic management, assisting them in the first steps of their journey.
Supporting strategic sectors
CFFA strongly supports strategic sectors with a current and future impact on the growth of the Albanian economy. About one-third of CFFA’s portfolio is dedicated to the manufacturing sector, including almost every sub-sector of it.
This represents almost twice as much of its portfolio proportionally to the average domestic financial market. CFFA also supports the new and existing initiatives of the ICT sector by dedicating eight times as much of its portfolio proportionally to the average domestic financial market.