TIRANA, June 30 /ATA/ – The government has expanded its sovereign loan guarantee scheme to support businesses under the “Double Your Enterprise” programme, Economy and Innovation Minister Delina Ibrahimaj said on Tuesday.
Speaking after a cabinet meeting, Ibrahimaj said the programme would be available to businesses across Albania through the banking system starting this month, with loans backed by the state guarantee carrying an average interest rate of around 2%.
“The sovereign guarantee is an extremely important financial instrument at this stage of Albania’s economic development. Businesses need greater access to financing to increase investment, productivity and competitiveness,” she said.
Ibrahimaj said the measure is intended to improve access to credit and strengthen the capacity of Albanian businesses to align with European Union standards.
She also said the cabinet approved three draft laws related to Chapter 7 of Albania’s EU accession negotiations, covering industrial property rights, including industrial designs, geographical indications and copyright.
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