Financing agreement, 250 million euros loan for SMEs - Sovereign guarantee for 70% of the collateral
The Framework Agreement for the implementation of the National Micro, Small and Medium Enterprise Financing Program "Double Your Entrepreneurship" was signed in Tirana between the Bank of Albania, line ministries and commercial banks.
The agreement was signed by the Minister of Agriculture and Rural Development Andis Salla, the Minister of Finance Petrit Malaj, the Governor of the Bank of Albania Gent Sejko, the Minister of Economy and Innovation, Delina Ibrahimaj, and Seyhan Pencabligil, Deputy Chairman of the Albanian Association of Banks, General Director and member of the Board of Directors of BKT.
Prime Minister Edi Rama was also present at the ceremony.
The agreement between the state, the banking system and Albanian entrepreneurship for the National Financing Program for Small and Medium Enterprises (SMEs) "Double Your Entrepreneurship" aims to support small and medium businesses in Albania through favorable financing for the expansion of investments in innovation, digitalization, technology and green investments.
The agreement was assessed by the authorities as an important step towards modernizing the economy, increasing competitiveness, and aligning with European Union standards.
The agreement foresees the creation of a new credit instrument with a liquidity of 250 million euros, supported by the Bank of Albania channeled through the banking sector for businesses with low interest rates, also supported by the Ministry of Finance through a sovereign guarantee covering up to 70% of the collateral, facilitating access to financing for Albanian businesses and farmers.
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