TIRANA, Jan.22 /ATA/- The Albania’s Ministry of Finance and Economy (MFE) approved the extension of the deadline for applications under the state guarantee scheme aimed at recovering business activity affected by the COVID-19 situation.
The decision of the MFE came after the request of the Albanian Association of Banks (AAB), which has deemed necessary a second extension of deadline for applications under this state-backed loan scheme.
The deadline for applications under this state-backed loan scheme has been extended to June 30, 2021. The sovereign guarantee covers 60% of the loan value.
“Postponing applications until mid-2021 will enable a large number of businesses to benefit loans whose activity has been hit by the COVID-19 pandemic,” MFE said.
By the end of December 2020, which coincides with the deadline for applications under the scheme of this guarantee, 308 businesses mainly in the sector of trade, service delivery or production have benefited loans, credit lines or overdrafts at a total value of about ALL 8.95 billion. //a.i/
