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The Crimson Finance Albania Fund (CFFA), which for several years has become a partner for small businesses in Tirana, has been joined by a new partner, Helenos, a private investment company based in Belgium, which becomes the fifth shareholder of the consortium, after the Municipality of Tirana, the Albanian-American Development Fund, Norfund and Crimson Capital.
In his greeting speech at the ceremony held on this occasion, which was also attended by the Director of AADF, Michael Granoff, the Mayor of Tirana, Erion Veliaj focused on the excellent cooperation with the Albanian-American Development Foundation, with which Tirana has completed the successful New Bazaar renovation project, and is currently working to turn the Pyramid into the largest information technology center for young people.
“I want to use the arrival of “Heleno” to illustrate a little of my reflection on the debates we have heard in recent weeks about the Albanian-American Foundation. Trust is very important for a society to function. Unfortunately, today I have to apologize, not for my fault, but as the mayor of Tirana, for that noisy minority which in recent weeks has been invested to undermine this trust. Many of them – not because they do not know or have forgotten, but because they do not want to be reminded that – if it were not for the Albanian-American Foundation, they would not have an Albanian passport today. Many of these people received their first credit card from the Albanian-American Bank, because once everything was done in cash. Many of them traveled abroad for the first time from the airport funded by the Foundation. Today, many of those who learn how to code do so at Tumo, which is co-financed by the Fund. Three hundred businesses in the New Bazaar, today trade in much better conditions thanks to the Fund. Therefore, it is shameful that, after 20 years or more of input, we discuss such attacks“, Said Veliaj.
He said that a national pact should be made for things that are of national interest. “This is nonsense! We are in 2022! We can not do such things. Therefore, not only do I feel ashamed today and I apologize for that noisy minority – which I understand when politicized with the mayor in the debate on the Square, the Lake, the “towers” of Sami Frashëri, etc., the Albanian wonders for which we have ‘flabby skin’ – but this is not normal! We have to make a national pact that, for things that have a national interest, for those who make philanthropic investments like the Fund, we have to ask who the other AADF is, to become 2 and 3, 13, 33, not to mix those we have. This does not honor us! Despite our beliefs, we need a national pact. We can not call success loot. We can not make conspiracy theories for every delusion that fantasizes. We need trust “, said Veliaj.
AADF Director Michael Granoff welcomed Helenos as the new partner in the Crimson Finance Fund Albania initiative and stressed that trust is the right thing to do to accelerate a country’s economic development. “Today we bring together some collaborators in this project – the mayor has been such since the beginning of this project, but the key to increase this program, in order to meet the economic needs of Albania, is to increase the consortium of members of young. AADF has contributed $ 1.2 million to this project, to launch it, and one of the most important things we as a foundation can do is be a substantial investor, helping to start the project because it is difficult to contribute when still you have achieved nothing, but it is easier to become a part of the project now that it is successful. So we take a little more risk, to get things started, to bring in successful models, and we are now in a position to add new members to the consortium, to build capacity, and to provide more support for growing businesses in Albania, as well as to incubate more start-up businesses “, he said.
Since its establishment in 2015, by four partners – the Albanian-American Development Foundation, the Municipality of Tirana, Norfund and Crimson Capital – the mission of “Crimson Finance Fund Albania” has been to serve as a bridge for small business, to access the finances needed to grow and create jobs.
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