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This initiative marks the beginning of the capacity building component of the Greenback Project implemented by the World Bank in Albania in the context of the Remittance and Payments Program financed by the Swiss Secretariat for Economic Affairs.
The first phase will seek to build the capacity of financial service providers (banks, microfinance institutions, money transfer operations, electronic money operators, etc.) to better address the needs of vulnerable segments by applying an approach behavior towards the delivery of financial services.
This project has the ultimate goal of reducing remittance costs and formalizing this service so that these revenues can be turned into an added value for the domestic and national economy, the Bank of Albania said.