Inclusion of financial sector in support of non-profit sector sustainability: the beginning of a dialogue

In the framework of identifying how financial institutions can be supportive and proactive, responding to civil society needs, Partners Albania Center for Change and Conflict Management together with Euclid Network and Banca Intesa SanPaolo launched the initiative for the inclusion of financial sector in support of not-for-profit sector sustainability. The theme of the first consultation meeting was “Potential Cooperation between Civil Society Sector and Intesa SanPaolo Bank” and wit was held at the headquarters of Intesa SanPaolo Bank on the 28^th October 2011.

Objectives

• To understand and address the needs of Albanian Civil Society Organisations (CSOs) on financial inclusion;
• To discuss possible cooperation between the Bank and civil society sector, focusing on areas/products/services;
• To identify concrete next steps for future cooperation.

A presentation of the services that the bank currently offers and some best practices (like Social Innovation Competition – Naples 2.0, organised by Euclid Network) were presented and followed by a lively discussion, in which some interesting ideas have arisen: 

• Urgency to have dedicated services for CSOs – especially loans and bank accounts;
• Liquidity is an issue for CSOs and an overdraft facility could be a product to be developed by the bank;
• Development of innovative ways of co-financing projects;
• Reducing bank fees, which have recently increased.

Moreover, Banca Intesa SanPaolo will need to comply with the regulatory framework imposed by the Albanian Central Bank to the banking sector, as pointed out by Mr. Alberto Prestopino – Intesa SanPaolo Bank Albania.

Next Steps

The Bank’s representatives agreed that the Bank has committed to:

• Improve the service, making them more tailor-made for CSOs;

  • Adapt (reduce) bank fees to CSOs’ needs;
  • Develop new supporting products and services for projects, whose budget has been approved;
  • Revise the bank guarantee mechanism
  • Support CSOs, providing co-financing for projects.

Contact

Luisa: luisa.deamicis@euclidnetwork.eu