Fondi Besa awarded “European Code of Good Conduct for Microcredit Provission” by the European Commission

Fondi Besa is pleased to announce that it has been awarded by the European Commission (EC) the Certificate of Compliance with the European Code of Good Conduct for Microcredit Provision.

Compliance with the Code standards is a pre-condition for benefitting from the EaSI Technical Assistance and EaSI Financial Instruments.

The European Code of Good Conduct for Microcredit Provision provides a set of standards in terms of management, governance, risk management, reporting, and consumer and investor relations that are common to the microcredit sector in the European Union. These standards are for the benefit of customers, investors, funders, owners, regulators and partner organisations.

The Code has been built on recognised best practice in the microfinance sector and developed in close consultation with the microcredit sector in the EU and its stakeholders. The development of the Code was based on the recognition that – considering the disparate regulatory frameworks in which microcredit providers in the EU operate – there was a need for a unifying set of expectations and standards that was common to the sector.

The Code sets out good practice guidelines that will better allow the sector to face the challenges of accessing long-term finance, maintaining and improving the quality of services, and moving towards sustainability.

This Certification confirms Fondi Besa position as one of the best microcredit providers in the country, being one of the few institutions in Europe and the only one in Albania qualified to receive this Certificate.