TIRANA, Nov 6 /ATA/ Farmers will be able to use stored products and those in production as collateral for credit.
The Minister of Agriculture and Rural Development, Anila Denaj announced that the draft law “On commercial receipts for agricultural products” has been submitted for public consultation.
The purpose of this draft law is to ensure as much financing as possible in agriculture, quick and fair payments to the farmer for the future and stored agricultural product, as well as the creation of a collateral system through the future and stored agricultural produce.
This draft law specifically regulates the two financial instruments such as “commercial receipt on the future agricultural product” and “commercial receipt on the stored agricultural product”, the electronic procedure of issuing these receipts, their registration in electronic form, as well as in the register of insurance lien.
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