GoA, EBRD to co-finance 150 mln euro programme to support farmers in Albania

TIRANA, May 22/ATA/- Head of the Agricultural and Rural Development Agency, Frida Krifca stated Friday that, the government has made available to farmers instruments for promoting agricultural lending.

During a meeting today with farmers in Lundër, Tirana, Krifca said, “A high priority remains the access to finance as critical for the growth of the agriculture sector. Banks have been reluctant in lending to agriculture as it is considered a high-risk sector. Therefore, in 2015, the state created a guarantee fund of 150 million euros financed by the Government of Albania (GoA) and the EBRD, to support farmers in Albania.”

“The Albanian government will be a guarantor for the loan. This is an important mechanism and instrument made available to farmers. There are 6 banks and a microfinance institution (MFI) that will offer this product.For more information please visit Agropika,” she said.

“Also the contract reached between farmer and ARDA, will serve the bank as a credit guarantee, without the necessity for additional collateral by the farmer,” Krifca added. //a.i/