TIRANA, May 13 /ATA/ – An agreement was signed on Wednesday on a 250 million euro financing programme for micro, small and medium-sized enterprises (SMEs), backed by state guarantees covering up to 70% of collateral requirements.
The framework agreement for the national financing programme, titled “Double Your Business”, was signed in Tirana by the Bank of Albania, government ministries and commercial banks.
Signatories included Agriculture Minister Andis Salla, Finance Minister Petrit Malaj, Bank of Albania Governor Gent Sejko, Economy and Innovation Minister Delina Ibrahimaj, and Seyhan Pencabligil, deputy chairman of the Albanian Association of Banks and chief executive of BKT. Prime Minister Edi Rama also attended the ceremony.
The programme aims to support Albanian SMEs through preferential financing for investments in innovation, digitalisation, technology and green projects.
Authorities described the agreement as an important step towards modernising the economy, strengthening competitiveness and aligning Albania more closely with European Union standards.
Under the scheme, the Bank of Albania will provide 250 million euros in liquidity, to be channelled through the banking sector in the form of low-interest loans for businesses.
The programme will also be supported by a 30 million euro sovereign guarantee from the finance ministry, covering up to 70% of collateral requirements in an effort to improve access to financing for businesses and farmers.
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