TIRANA, April 9/ATA/ The government approved in today’s meeting the state guarantee for the processing industry sector, following the normative act for the amendment of the 2024 budget, where there is foreseen the allocation of the fund of 4 billion Lekë for this guarantee.
The state guarantee instrument enables businesses in the processing industry to receive financial support through lending with favorable conditions, in order to make investments in the further automation of production lines, as well as the availability of liquidity for the purchase of raw materials.
The guarantee of 4 billion Lekë covers up to 70% of loans from the banking system with a margin of no more than 1.5% above the base rate. The pay back term is foreseen up to 7 years for loans for investment and up to 3 years for loans for the purchase of raw materials.
The State Guarantee Instrument will be implemented through agreements with the 11 commercial banks operating in the banking system, where the businesses of the processing industry sector will have the opportunity until the end of October 2024 to apply to them for loans with facilitating conditions, while the final deadline for concluding loan contracts has been set until the end of the current year.
The State Guarantee and financial support for businesses in this sector aims to support the improvement and updating of technological processes, as well as increasing the level of productivity and competitiveness of these businesses./r.e/p.s./
