TIRANA, May 13 /ATA/ – Prime Minister Edi Rama said on Wednesday that small and medium-sized enterprises (SMEs) will gain access to a new credit line offering loans at interest rates ranging between 2% and 3%, as part of a government-backed business financing programme.
Speaking at the launch of the “Double Your Business” initiative, Rama said the scheme would be supported by sovereign guarantees aimed at significantly reducing lending risk for commercial banks.
“The sovereign guarantee will range from 30% to 70%, depending on the assessed level of risk,” Rama said.
He also urged commercial banks to show greater willingness to lend to the agriculture sector, which he described as carrying higher risk but also strong growth potential.
Rama said eligible projects should focus on lower-risk investments linked to agribusiness, agrotourism, innovation and new technologies.
“I strongly believe that a grant fund to support the preparation of business plans and applications for SMEs will also add value by facilitating relations between businesses and banks,” he added.
Rama made the remarks during the signing of a new partnership agreement between the government, the banking sector and Albanian businesses under the national SME financing programme “Double Your Business”.
The agreement envisages 250 million euros in low-interest lending support and 30 million euros in sovereign guarantees to facilitate financing for small and medium-sized enterprises.
/a.f/r.e/u.sh/
