Sovereign Guarantee: 3 billion lek for the agricultural sector. Coverage of up to 70% of the loan principal!
Minister of Finance Petrit Malaj and Minister of Agriculture and Rural Development Anila Denaj held a joint meeting with the heads of second-tier banks and representatives of the Association of Banks to discuss the technical aspects of the implementation of the new Sovereign Guarantee for the agricultural sector, recently approved by the Albanian government.
The Sovereign Guarantee with a fund of 3 billion lek, or 30 million euros, is an instrument that will be put at the service of the private sector with the aim of facilitating access to finance for farmers and Small and Medium Enterprises.
The rates foreseen for this scheme will be extremely favorable and cover up to 70% of the loan principal, the amount of which will not exceed 25 million lek for each of the applicant entities.
Small and Medium Enterprises will have the opportunity to combine this Sovereign Guarantee with the Bank of Albania product, benefiting from more opportunities and greater financial access with a focus on investments that increase production capacity and quality in agro-processing, modernization of agricultural mechanics, agritourism, fishing, aquaculture, etc.
This is the fifth Sovereign Guarantee that the Albanian government makes available to private enterprises, as an opportunity for increased liquidity, with the state as the guarantor.
The Ministry of Finance focuses on strengthening partnerships with second-tier banks to increase access to finance, but also to maintain parameters that guarantee the sustainability of public debt.
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