Quarterly Program Performance Report Q1 2019

The program's mission is to deliver growth-oriented services to SMEs through five interrelated components: facilitating access to capital for agribusinesses, developing innovative technologies, implementing environmental and energy efficiency initiatives, providing comprehensive services directly to enterprises, and launching joint development programs with municipalities. During the first quarter, SmartCapital provided $1.96 million of capital financing to 12 agribusinesses. This financing came in the form of $1.49 million in loan disbursements and $468,000 worth of grants. The 12 cases resulted in a total increase of $2.4 million in investment value. The loan referral platform, LORES, exceeded previous amounts in this quarter, reaching a total value of $4.4 million in referral value. Business advisors assisted four agribusinesses in obtaining loan disbursements amounting to $757,000. Six agribusinesses were enabled with $468,000 in grant financing under the National Grant Schema and the SARED program. Five beneficiaries are improving their infrastructure capabilities, while another agribusiness is investing in purchasing new technology and machinery. The highest grant amount was facilitated in the Fier region to a large fruit and vegetable producer, in order to invest in warehouse construction. The SmartCapital regional team, located in Tirana and Korça, assisted seven agribusinesses with business plans for IPARD fund applications. These investments will enhance their equipment, machinery, and technology capabilities. Three of the beneficiaries' investment cases improved practices in management and technology, through purchasing energy-efficient equipment and machinery. SmartCapital kicked off its first quarter of the third year, with $1.96 million of financing for 12 agribusinesses. The total access to capital value for the project reached $11 million. The program's regional team assisted seven agribusinesses with business plans for IPARD fund applications, and six agribusinesses were enabled with grant financing under the National Grant Schema and the SARED program. The European Commission officially launched the implementation of the Instrument for Pre-accession for Rural Development II (IPARD II) program in Albania on November 30th. The program has a value of 94 million EUR in funding and is now available for investments in agriculture and rural development. CBS provides direct technical assistance to farmers and agribusinesses through business plan preparation, and the SmartCapital team will be working intensively during the month of January to support agribusinesses with investment plans and a full documentation package in order to qualify for the grant. The program's achievements to date include providing business plans to 182 agribusinesses, facilitating access to capital for 159 agribusinesses, and enabling 118 agribusinesses to invest in energy efficiency. The program has also certified 14 agribusinesses internationally and has increased leverage by $8.6 million, new investment by $11.5 million, and financing by $17.2 million. The program's online trade platform, AgroTrade, is running internal tests on the matching algorithm and communication functionalities, and the platform design is completed, with seller profiles now customized.