TIRANA, February 6 /ATA/ The Bank of Albania organized today in Tirana, the roundtable discussion on the topic: “Agricultural Sector Lending: Identifying paths and creating instruments for qualitative progress in lending to the agricultural sector”.
Attending the meeting were Prime Minister Edi Rama, Governor of the Bank of Albania Gent Sejko, Minister of Finance Petrit Malaj, Minister of Agriculture and Rural Development Anila Denaj, heads of the banking system and representatives of agribusiness companies.
Governor of the Bank of Albania Gent Sejko said that, “The Bank of Albania has made available a fund of 25 billion Lekë intended to support lending to micro, small and medium-sized businesses. This program, which will be implemented through second-tier commercial banks, offers the opportunity to significantly reduce the cost of credit for these businesses, which can reach up to 2% interest rate, but in any case, it will not exceed the level of 3.5%, creating opportunities for them to invest in physical assets, capital assets or technological platforms, which serve to increase productivity”, said Sejko.
“This extraordinary measure of the Bank of Albania constitutes an important opportunity to promote lending to small and medium-sized businesses in general, and those operating in the agricultural sector, in particular”, said Sejko.
“Agriculture sector has an economic and social importance. The agricultural sector employs about a third of the country’s workforce and generates about 20% of the national output. However, even after three decades of transition, it continues to be characterized by a low level of productivity and income. The average income per capita in rural areas is approximately 50% of the average income per capita in urban areas”, emphasized the Governor. /a.f/r.e/p.s./
