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NEWS | From Financial Literacy to Green Finance: DSIK's Next Chapter in Albania and Kosovo

The year was 2020, a time unlike any other in recent history when the entire world found itself grappling with the unparalleled challenges posed by a global pandemic. In the middle of this global pandemic, the German Sparkassenstiftung for International Cooperation (DSIK) embarked on a new project in Albania.

Online National Stakeholder Workshop

Adapting Classroom Training to Virtual Training

Credit Risk Training with Oleg Flaum

Trainers: S. Schuster and S. Bunte with representatives from partner organizations

The project's focus was on strengthening financial education and financial literacy, which were identified as essential tools for addressing the developing situation, demography, and future of Albania.

The announcement of the project was made via an Online National Stakeholder Workshop. Through their collective efforts, DSIK and its partners demonstrated the critical role that organizations like DSIK play a role in providing assistance and expertise, even in the face of unprecedented challenges.

The primary challenge was adapting to the impacts of the Covid-19 pandemic, but with creativity, hard work, and technological innovations, DSIK has managed to pivot the strategy and introduce the Sparkassenstiftung Saving Game in Albania virtually. In the second half of November started the first “training of trainers” with a virtual classroom.

The true measure of the training's effectiveness was evident when partner organizations, including Junior Achievement of Albania (JAA), the Resource Environmental Center (REC), the Albanian Center for Environmental Governance (ACEG), and Unifin SLA, Balance Center, were able to organize and conduct various Business Games for their beneficiaries.

DSIK's project in Albania recognizes the importance of the financial sector and has collaborated with key stakeholders such as Albanian Association of Banks (AAB), Albanian Microfinance Association (AMA), National Commercial Bank (BKT) and Unifin SLA to enhance capacity building, institutional development, and financial education. Through workshops on risk management conducted over the past two years with partners, DSIK has received positive feedback and remains committed to promoting sustainable growth and development in Albania's financial market.

One of DSIK's notable achievements was the successful implementation of the Stock Market Learning competition in Albania. It was organized in collaboration with Albanian Financial Supervisory Authority (AFSA), Albanian Securities Exchange (ALSE), and Albanian Brokers Association (ASTA) and provided a great opportunity for students from all over the country to participate. The competition saw a high level of participation from Albanian universities and was held for two consecutive years.

Building on the success of the Strengthening Financial Literacy project in Albania, DSIK expanded its efforts to North Macedonia in 2021. Requests from institutions in North Macedonia led to a fact-finding mission at the end of 2020, which showed promising results. In August 2021, German Sparkassenstiftung began working in North Macedonia as part of the larger project of Albania, continuing to focus on financial literacy and inclusion in the region.

At the end of 2022, DSIK organized two workshops on Green Finance with participants from the financial sector and regulators in Albania, Kosovo, and North Macedonia. They served as an introduction to the management of ESG risk and the tools available through DSIK to address this emerging area. The workshops provided a platform for discussion and knowledge sharing among the participants and helped to promote the integration of sustainable finance principles into the operations of financial institutions in the region.

This initiative marks the start of a new phase for the DSIK project.



New project in Albania and Kosovo

Promoting the socio-ecological transformation of the economy and improving training and
employment in Albania and Kosovo

A new project is being launched in Albania and Kosovo to support the socio-ecological transformation of the economy, while also improving training and employment opportunities for young people. The overarching development goal is to create a socially just and sustainable economy, with decent jobs and living wages for all.

The project aims to strengthen the development potential of both countries by enhancing the financial literacy and entrepreneurial skills of the rural population, particularly MSMEs and smallholders.

Overall, this new initiative promises to have a significant impact on the economic and social well-being of communities in Albania and Kosovo. By promoting a social and sustainable economy, while also supporting the training and employment of young people, the project aims to create a brighter future for all.

Deutsche Sparkassenstiftung für internationale Kooperation e.V.
Regional Office Albania

Rr. Perlat Rexhepi, Nd 19, Ap 53, 7th Floor,
Tirana 1019, Albania

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