BRIEF HISTORY of Developments leading to the Foundation of FAF-DC

What is FAF DC

The First Albanian Financial Development Company (FAF-DC) established on early the beginning of 2009, as
an implementation of the Strategy “For the conversion of the Mountain Areas Finance Fund - MAFF’ into
‘Financial Development Company, endorsed by the Government of Albania, Decision of the Council of
Ministers No.904, date 27.06.2008”. FAF-DC is a governmental owned company opened to any potential strategic investor, with paid-up shareholder’s capital of ALL 1,030,100,000.

FAF-DC is registered at National Registration Centre on 31.12.2008 FAF-DC is licensed by the Bank of Albania for all sorts of crediting. On May 2009, the Ministry of Finance agreed to sub-lend to the Company the amount of Eur 5,000,000 originally borrowed from the Council of Europe Development Bank (“CEB”).

What is/was MAFF

·         Established as a Foundation by the Government of Albania (GoA), Mountain Areas Finance   

             Fund – MAFF, December 1999.

·         Registered as NGO in Tirana Court, April 2000.

·         Licensed as a Non Banking Financial Institution, March 2000