Through its Mission and Values, ASF is committed to helping clients increase their income, strengthen their businesses and make informed financial decisions, contributing to poverty reduction and improved living standards in the communities it serves.
Social Performance
Reporting Social Performance Indicators
Agro Social Fund assesses and reports social performance indicators for all stakeholders, including:
OWNERS
who want to assess the social and environmental impact of their investments.
COMMUNITIES
where we operate, who want to understand our contribution to society.
EMPLOYEES
who want assurance about the social and environmental impact of the institution where they work.
CLIENTS
who are interested in the ethical and social impact of financial products and services.
PARTNERS
who want information about the social impact of projects implemented in cooperation with ASF.
Agro Social Fund assesses, monitors and seeks to improve its social performance indicators in accordance with international standards for their measurement and reporting.
Agro Social Fund assesses and prioritises the following indicators:
Number of women clients served
We believe that supporting a woman leads more quickly to improvements in the overall well-being of her family. In Albania, women have fewer economic opportunities, less security and less independence. We support women in developing professional skills, starting their own businesses and investing in their personal well-being and the care of their families.
Number of clients living in rural areas
Supporting clients in rural areas to expand their agricultural and livestock activities is an effective way to combat poverty. Helping them increase profits from the sale of their products plays an essential role in developing these areas, which are relatively underserved by financial institutions.
Number of jobs sustained
Unemployment is a major challenge for most developing countries. Agro Social Fund prioritises lending to businesses that provide income for more than one family.
Jobs created
Agro Social Fund aims to contribute to the economy by helping create new jobs.
Number of children whose living conditions have improved
Agro Social Fund proudly continues to support one of World Vision’s most meaningful aspirations: improving the sustainable well-being of children within families and communities, particularly the most vulnerable.
Number of clients from vulnerable groups
Roma and Egyptian communities are among the most underserved groups in Albania. Supporting them has therefore always been a direct focus of Agro Social Fund.
Number of new businesses
New entrepreneurs have the potential to build a productive new economy and create dynamic employment opportunities. Agro Social Fund will therefore continue to focus on supporting their ideas.
Based on our social performance measurement methodology, the following results were achieved:
1005 women clients
have developed through ASF’s support during 2019.
808 clients
in rural and semi-urban areas were supported during 2019.
125 new jobs
were created through ASF during 2019.
1600 jobs
were sustained through Agro Social Fund’s interventions during 2019.
3500 children
experienced improved living conditions through ASF’s impact during 2019.
122 new businesses
received financial support from Agro Social Fund during 2019.
150 clients
from vulnerable groups received financial support from Agro Social Fund during 2019.
Client Protection Principles
Agro Social Fund upholds client protection principles and supports and promotes best practices in microcredit. Its Client Protection Principles align with the international principles of the microfinance sector, as follows:
Appropriate Product Design and Delivery
Products are designed with clients’ needs and repayment capacity in mind, while also reflecting their feedback and suggestions.
Prevention of Over-Indebtedness
Providing loans that clients can afford to repay.
Transparency
Clients receive clear, complete and understandable information about terms, fees and obligations before taking out a loan.
Responsible Pricing
Pricing and other loan terms, including the amount and repayment period, are affordable and reasonable for clients while enabling ASF to remain financially sustainable.
Fair and Respectful Treatment of Clients
We do not discriminate against our clients in any form. Every ASF employee respects clients and works to provide services fairly and respectfully.
Privacy of Client Data
Agro Social Fund SHA respects the confidentiality of its clients’ data. Client data is used only for the purposes specified when the loan is granted, in accordance with the applicable laws and regulations of the Republic of Albania.
Mechanisms for Handling and Resolving Complaints
Agro Social Fund is committed to listening to clients by giving them the opportunity to contact staff directly or use other official channels, which are publicised in every office and in documents issued by Agro Social Fund. This includes managing feedback on our products and services and responding with service improvements within a short period of time.
Agro Social Fund continually seeks projects that can help the institution achieve effective and efficient performance, as well as partners who can expand our impact and activities in accordance with international rules.
Code of Good Conduct
In support of our daily efforts to ensure the highest quality of lending services, the European Commission has awarded ASF a certificate of compliance with the European Code of Good Conduct for Microcredit Provision.
“Borrow Wisely” Campaign
Through our participation in the “Borrow Wisely” campaign, which provides our clients with free education on responsible borrowing, we received the Member Engagement Award at the 24th MFC Annual Conference for promoting global consumer protection standards through this campaign.
Financial Rating
During 2020, Agro Social Fund successfully received a “Financial Rating”, a certification providing an expert opinion on a financial services provider’s medium-term sustainability and reliability.
