How will agribusinesses be credited? - New guarantee scheme. 70% of the principal is covered, interest rate up to 2%
The new Sovereign Guarantee Scheme is an initiative that aims to facilitate access to finance for farmers and agricultural businesses.
This financial instrument will cover up to 70% of the principal of loans granted by banks and financial institutions, significantly reducing the risk for lenders and facilitating access to loans for farmers and agricultural businesses.
The sovereign guarantee, which will be applicable in the second half of this year, will aim to ensure that agribusinesses will have the opportunity to obtain loans with an interest rate of up to 2 percent.
This guarantee fund is expected to focus specifically on several key areas of agricultural sector development: Ensuring the continuity of agricultural and livestock production, by supporting the construction of more greenhouse areas and meat production facilities and aquaculture infrastructure; Investments that promote mechanization and innovation; Investments that promote agri-food production; Investments in certified agri-tourism infrastructure.
According to the Ministry of Agriculture, this scheme will not be limited to supporting traditional agricultural production, but will also encourage investments in mechanization, innovative technologies, certified agritourism and aquaculture, thus diversifying sources of income and creating new jobs in rural areas.
Agricultural exports have increased by over 10% each year, reaching 471 thousand tons and a value of over 53 million euros at the end of 2024. In the last year alone, there has been an increase in quantity by almost 21% compared to 2023, mainly to EU countries, targeting not only elite markets, but also about 30 other markets where Albanian products are traded.
The agricultural sector employs over 33% of the rural workforce and has a significant impact on nearly 20% of the country's Gross Domestic Product.
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