Microfinance Inclusion and Innovation Project

Microfinance Inclusion and Innovation
Improves financial literacy among entrepreneurs, student, farmers...
Alliance of Microfinance Organizations


Microfinance Inclusion and Innovation is a three-year, $1.4 million, regionally-funded program to improve access to financial products tailored to the needs of low income households, entrepreneurs, and medium and small enterprises in Western Balkan countries, with the goal of creating new jobs, galvanizing economic growth, and reducing poverty.  A higher level objective is helping move North Macedonia toward convergence with EU accession criteria.


The project is implemented through a grant to the Alliance of Microfinance Organizations, which works to upgrade the IT platforms of intermediate finance institutions; improve financial literacy among entrepreneurs, student, farmers, and others across the whole country; train the personnel of microfinance institutions to help improve their competitiveness; assist with the drafting of implementing regulations for key pieces of legislation impacting the financial sector; and organize regional fora on payment issues and other topics is to the microfinance sector.


  • IT platforms have been successfully developed, procured, and installed in three microfinance organizations based on results from a detailed market research.
  • The financial literacy of 344 farmers, entrepreneurs, students and other target groups has been increased, thereby building the capacities of the population to become bankable and capable clients of non-bank financial institutions.
  • The sales skills of over 110 microfinance organizations’ personnel have been built through five two-day trainings.
  • A regional Forum on Payment Services for Better Financial Inclusion was carried out in Ohrid with participation by representatives of the National Bank of North Macedonia, Albania, Slovenia, Croatia, Montenegro, and Serbia, as well as credit unions from Ireland, US, UK, Moldova and Poland.  The discussion was aimed at helping the Ministry of Finance and the National Bank of Macedonia strengthen the draft text of a new Payment Services Law.
  • Over the past couple of years, the Alliance has become the leading voice of the Microfinance sector and a recognized, relevant counterpart of the public, private and civil sector organizations, with capacities to actively engage in PPD and policy proposals, providing professional and evidence-based solutions.

Last updated: March 14, 2019

Share This Page