AAEF to invest in Albanian education, private firms

TIRANA, Oct 20ؔhe Albanian-American Enterprise Fund (AAEF) will create a foundation to support investment in education, private enterprises, leadership capacity development, cultural tourism and ecotourism in Albania with capital of USD100 million.
The new Albanian-American Development Foundation for Albania is expected to become the largest non-profit group in the country.
“All over Albania, the need for education and training lies at every step of life from learning basic concepts in secondary schools to the training of top managers of companies,” AAEF director Michael Granoff said in a statement.
Creation of the foundation was announced after AAEF representatives met Education Minister Myqerem Tafaj.
AAEF (www.aaef.com) is a non-profit, US corporation established to promote private sector development, incorporated in 1995 with committed capital of USD30 million from a grant administered by USAID.
Since its inception, the AAEF has invested in 40 Albanian companies. Its net assets on Sept.30, 2008 were USD178 million.