Albanian-American Development Foundation

Albanian-American Development Foundation
Aleksander Sarapuli, Co-Country Director
Martin Mata, Co- Country DirectorStr.”Ibrahim Rugova”
“Green Park” Complex,
Tower 2, Floor 11
P.O. Box. 1731, Tirana-Albania
Tel: +355 4 2222408
Fax: +355 4 2271952
Business Profile

The Albanian American Enterprise Fund “AAEF”) is a non-for-profit, US corporation established pursuant to the Support for East European Democracy Act of 1989. Its primary purpose is to promote the private sector development of Albania. To accomplish this, the AAEF invests in a wide array of private enterprises, disseminates western business know-how, and, when appropriate, proposes changes to government policies affecting business.

The AAEF was incorporated in 1995 with a committed capital is US$ 30 million. AAEF maintains offices in Tirana, Albania and New York, USA. Management is under the guidance of a Board of Directors, who are individually selected for their knowledge of investing and appointed by the President of the United States.
The AAEF is managed by a skilled team of financial professionals with a combined of more than 60 years of specific experience investing in emerging economies and, in particular, the Albanian private sector.

The AAEF has made 63 investments in 26 companies investing over $68 million. The companies AAEF have invested created over 3,000 jobs.


The AAEF is interested in financing projects in all regions of Albania and in all sectors of the Albanian economy. Actual projects of AAEF include:

  1. Creation of the American Bank of Albania
  2. BOOT concession of Tirana International Airport “Mother Teresa”
  3. Expansion of the insurance activity of SIGAL group
  4. Expansion of the PE & PVC pipes manufacturing plant of TEQJA International.
  5. Creation of granite quarrying and processing company of ALB-GRANIT shpk.
  6. Expansion of a customs clearing agency

Former Investments

  1. Creation of metropolitan fiber optics data-transmission network
  2. Expansion of a garment production facility
  3. Purchase and development of industrial/commercial real estate
  4. Creation of a liquefied petroleum gas (LPG) distribution company
  5. Purchase of hand soap processing equipment
  6. Purchase of an asphalt production plant
  7. Construction of a metal fabrication factory
  8. Debt restructuring for a brick company
  9. Construction of a warehouse/cutting factory for marble processing company
  10. Purchasing of packaging lines for a food processing company
  11. Construction of a car dealership showroom, offices, and service area
  12. Importation of commodities and agricultural inputs
  13. Construction of a metal pipes manufacturing plant


The AAEF offers financing and management assistance to private Albanian companies, formerly state-owned enterprises in the process of being privatized, Albanian-Western joint ventures, and Western firms interested in becoming involved in Albania. The AAEF endeavors to identify and invest in enterprises that have good prospects of being commercially viable, are capable of meeting international standards of quality, promote local manufacturing, create jobs and exports, and are environmentally safe. The AAEF seeks to be a “partner in progress”.


Aleksander Sarapuli, Director
Martin Mata, Director
Greta Angjeli, Senior Investment Officer
Armand Frangu, Investment Officer
Asllan Hila, Chief Accountant

Board of Directors

Michael D. Granoff, Chairman
CEO, Pomona Capital
Domenick G. Scaglione, Chairman Emeritus
Chairman and CEO, Intercontinental Investment Services Inc.
Dianne Blane
Former USAID Mission Director in Albania
Cafo Boga
Chief Operating Officer, I-flex solutions, inc.
Douglas G. Carlston
Chief Executing Officer, Tawala Systems
James H. Duffy, Esq.
Thomas J. Murtagh
former U.S. Assistant Deputy Under Secretary of Defense

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