The Albanian Investment and Development Agency announced the start of the applications for “Start-Up” “Albanian Fund, a fund that finances small and medium sized companies. The fund aims to support and boost the development of SMEs, mainly startups by providing direct finances in order to improve the operating conditions of them.
Small and medium sized companies which operate in the production and service sectors, in tourism or agro processing, design, fashion or handicrafts will be favorites to win the supporting financing from AIDA.
Through this fund, each winning company will be financed by 3 million ALL per project, in maximum. The supporting fund will cover 70% of the approved expensed of the company and the fund will be given to companies in two phases. The fund, say official sources from AIDA, is aimed at establishing the necessary basis for a stable economic development and the creation of new vacancies by these companies.
Companies can apply for this fund starting from 24 March 2015 and the deadline is November 1st, 2015.