Sovereign guarantee in agriculture, low interest - Finance, Agriculture and BoA, meeting with banks: Orient farmers towards the scheme
A few months after the green light for the sovereign guarantee in agriculture, agro-processing businesses have started to show interest in benefiting from this scheme in order to make the investments they need. But since access has been low so far, and in order to identify the problems and take appropriate measures, a comprehensive meeting was held between the Minister of Finance Petrit Malaj, the Governor of the Bank of Albania Gent Sejko, the Minister of Agriculture Andis Salla, as well as the General Directors of commercial banks operating in the country and the Albanian Association of Banks.
The Minister of Finance, Petrit Malaj, stressed that the agricultural sector remains a strategic priority of the Government of Albania. According to him, with the approach of the integration of the Albanian economy into the European common market, it is necessary for Albanian business to improve productivity and increase added value along the entire production chain. The Minister emphasized that the Sovereign Guarantee Scheme should be seen as an opportunity that accelerates precisely this vital and immediate process.
Governor Gent Sejko, for his part, stressed the need to address several operational issues, in order to increase its effectiveness and absorption. In this context, he stressed the importance of continued coordination between public authorities, the banking sector and other institutions involved, to ensure that the Scheme remains in line with the strategic objectives of financial policies and contributes to a sustainable and inclusive growth of lending.
For his part, Minister of Agriculture Andis Salla stated that the Guarantee Scheme has begun to show its first effects, after a period where farmers needed to become familiar with it.
According to him, the Ministry of Agriculture and Rural Development, together with its subordinate agencies, will continue to cooperate with farmers for information and assistance during the application process.
Participants called on banks to intensify efforts to guide farmers towards untapped financing and investment opportunities in the agricultural sector. In this context, public authorities call on businesses and farmers to orient themselves towards untapped financing opportunities, taking advantage of existing programs and schemes, to develop their activities and contribute to the sustainable economic growth of the country.
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