A loan of $1,975 helped to pay for farmer's contribution into the social insurance program.

Veledin's story

Veledin lives in rural southeastern Albania, where the majority of people in the villages focus on livestock as the main source of income.

Veledin is a 56-year-old villager and a married father of six who has been doing livestock for nearly 10 years; he sells the raw milk to a nearby dairy farm.

He and his family literally fall below the poverty level, and to add to their poverty this past month, they were asked to pay a farmer's contribution as others do in such similar activities.

In Albania, there is a law that all 'active individuals'. including self-employed farmers, must contribute into the social insurance scheme.

Farmers and others who are self-employed pay a fixed sum, as well as a set amount of their profits. The contributions are 'registered', but immediately pay out benefits to those who are retired or have disabilities. Benefits for those paying in now are paid for by the younger generation of workers.

This is the reason why Veledin is requesting a loan for the very first time.

Loan details

Lenders and lending teams

Loan details