Social Performance and Projects

In support of its Mission and Values, Agro & Social Fund is committed to assisting certain social groups facing economic hardship and excluded from financial services, which limit opportunities to address poverty, improve living standards, the future of children and the communities where they live.

Reporting Social Performance Indicators

Agro & Social Fund estimates reports social performance indicators for all stakeholders, such as:

The owners, who want to consider the social impact and environmental risks for their investment decisions.

The communities, where it operates, whowant to know the value of our contribution to the society.

The employees, who want reassurance that the company where they are employedcares about social and environmental impact.

Customers, who care about the ethics and social impact of their purchases and investments.

Partners, who want to be informed of the social impact of the projects implemented in cooperation with ASF.

Agro & Social Fund evaluates, monitors and aims to improve Social Performance indicators while respecting the international definitions of social indicators on their measurement and reporting.

Agro & Social Fund evaluates and prioritizes the following indicators:

  • The number of female clients served - We believe that the help given to a woman reflects more quickly on the overall well-being of the family. In Albania, women have far fewer economic opportunities, security and freedom. We support women to develop professional skills, start their own businesses, and invest in their well-being and the one of their families.

  • The number of customers living in rural areas - Supporting customers in rural areas to increase their agricultural activity is an effective way to combat poverty. Supporting them to increase profits from the sale of products is an essential tool in the development of these areas, which are left relatively in oblivion by financial institutions.

  • The number of sustained jobs - Unemployment is the main element that most developing countries are struggling with. Agro & Social Fund prioritizes credit to businesses that serve as a source of income for more than one family.

  • Jobs created - Agro & Social Fund aims to contribute to the market by helping to create new jobs.

  • The number of children whose livelihoods have improved - Agro & Social Fund proudly continues to support one of World Vision's most sensitive aspirations: "Increasing the sustainable well-being of children within families and communities, especially among the most vulnerable ones."

  • Number of clients from vulnerable groups - The “Roma” and “Egyptian” communities are the most underserved groups in Albania, based on this, their support has always been in the direct focus of Agro& Social Fund.

  • New Entrepreneurship Number - Young entrepreneurs have the potential to build a new generation economy and dynamic work, so they will always be in the focus of Agro& Social Fund to rely on their ideas.

Based on the methodology of measuring social performance has resulted:

ASF funded the development of 1005 female clients during 2019

ASF enabled the development of 808 clients in rural areas during 2019

The Agro & Social Fund has enabled the creation of 125 new jobs during 2019

Agro & Social Fund has enabled the preservation of 1600 jobs during 2019

Agro & Social Fund has impacted/improved the lives of 3500 children during 2019

Agro & Social Fund financially supported 122 new entrepreneurships during 2019

Agro & Social Fund financially supported 150 clients from vulnerable groups during 2019

Customer Protection Principles

Agro & Social Fund is the guarantor of the principles of client protection and the supporter and promoter of best practices in the field of microcredit. Our Customer Protection Principles are in line with the International Principles of the Microfinance Sector, as follows:

Product Design and Convenient Delivery

Products are built considering the characteristics of the target clientele and taking into account their opinions and suggestions.

Avoidance / Prevention of Debt Overload

Providing affordable loans to repay.

Transparency

Providing complete information to clients in a clear and understandable language to all clients.

Responsible Pricing

Affordable and reasonable pricing for clients, which minimally enables ASF to be self-sustaining.

Fair and respectful treatment of clients

Fair and respectful treatment of clients. Non-discrimination in any form or manner by any of the partners. Every ASF employee respects clients and works to provide the services in the most fair and respectful way possible.

Client Data Confidentiality

Agro & Social Fund sh.pk respects the confidentiality of its customer data and ensures that the information the institution holds about its customers is accurate and secure.

Complaints Handling and Settlement Mechanisms

The Agro& Social Fund is committed to listening to customers by giving them a voice through the possibility of direct contact with staff or through official contacts, which are advertised in any office or document. issued by Agro& Social Fund. This means managing their feedback on products and services and reflecting on improved services and transparent financial products within a short time.

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Agro & Social Fund is constantly looking for projects that can help the institution achieve effective and efficient performance; as well as partners who can expand our impact and operation in accordance with international rules.

Toward the improvement of lending practices

Code of Good Conduct

In support of our daily efforts to ensure the highest quality service in lending, the European Commission has granted ASF the certificate of compliance with the European Code of Conduct for Microcredit Provision.

Borrow Wisely

Based on our participation in the "Borrow Wisely" campaign, which aims to educate our clients for free, about how to borrow wisely, during the 24th Annual MFC Conference, we received the Member Engagement Award, for promoting global consumer protection standards through this campaign.

Financial Rating

During 2020 Agro & Social Fund successfully received "Financial Rating", which is a certification that gives an expert opinion on the medium-term sustainability and reliability of a financial service provider.