Rural Credit Guarantee Foundation
The Rural Credit Guarantee Foundation (RCGF) was established in July 2015 under the laws of the Republic of Albania. The idea was conceived as part of the EU framework of IPA to finance a program “Program for Rural Credit Guarantee” in Albania with the goal of increasing household incomes in Albania’s rural areas. The activities were co-financed by the EU and the Government of Albania for a total value of EUR 5.5 million, out of which EUR 5 million were from EU and EUR 0.5 million were from the Government of Albania. The initial project running from November 2014 through March 2016 was implemented by KfW Development Bank.
The Foundation’s capital was increased by an additional 30 million Euro in December 2018 from the German Government through KfW Development Bank, which continues to support the Foundation through technical assistance and studies.
On December 14th, 2020, the Rural Credit Guarantee Foundation (RCGF) signed the financing agreement for a grant of EUR 6.8 million made available by the German Government, through the German Development Bank, KfW, for private sector support to counter the effects of the COVID-19 pandemic.