Albania Programs - Overview 

Key FSVC Indicators for Albania from 1999-2014: 

       208      2,769      29,137
Projects Completed People Impacted Pro-Bono Hours 

Improving Tax Collection (2016 - Present)

Public financial management has been weak in Albania for the past decade, with tax collection being one of the most pressing issues. To address the shortcomings and support the public administration’s efforts to enhance fiscal discipline in the economy, FSVC is implementing a program with the support of USAID and VEGA with the General Directorate of Taxation (GDT).  Specifically, the program will assist the GDT with conducting effective and equitable tax audits and investigations as well as improve tax collection by building enforcement capacity, increasing debt collections, and developing performance management indicators for the GDT. 

Improving Tax Collection to Support Growth in Albania - September 5-8, 2016 from FSVC on Vimeo.

Strengthening Supervisory Capacity (2011 - Present)

To help Albania is in its efforts to join the European Union, FSVC is implementing a program, with support from USAID and the Volunteers for Economic Growth Alliance (VEGA), to strengthen the quality and consistency of financial sector regulations and supervision.  Activities include developing capacity at the Bank of Albania to detect emerging credit problems,communicate with banks and provide policy advice; assisting the Financial Supervisory Authority in creating a risk-based insurance supervision framework; and supporting the Deposit Insurance Agency in strengthening its risk management.  

Promoting Mobile Payments (2013 - Present)

FSVC, in partnership with USAID and VEGA, is providing technical assistance to facilitate the development of mobile payments in Albania.  Mobile payments can have a far-reaching positive impact in the country by making financial services available to previously unbanked populations, decreasing the grey economy and improving municipal tax collection.  

Key Accomplishments under Previous Programs

Strengthening Capacity of Central Bank FSVC has supported the Bank of Albania's capacity to implement an effective supervisory framework for over a decade.  FSVC enabled the Bank Supervision Department to develop well-trained staff that can detect emerging problems in banks, and facilitated the adoption of international standards of bank regulation.  

Strengthening Framework for Risk-Based Insurance Supervision and Capital Markets Development - FSVC has assisted the Financial Supervisory Authority (FSA) to create a framework for supervision of insurance products, implement a risk-based approach to insurance supervision and address how to establish a securities depository center, among others.  

Institutionalizing Actuarial Profession - FSVC partnered with the FSA and UK Institute of Actuaries to develop and implement two, 16-course training programs to instruct and certify new actuaries.  22 certified actuaries now contribute to the insurance sector in Albania and the region.  Further, FSVC helped to establish the Albanian Actuarial Association.   

Success Stories