Tirana, January 12, 2016
The agreement for the agriculture guarantee fund has been signed by the Albanian government and the European Bank for Reconstruction and Development on Monday, in Tirana. The agreement was signed by the Ministers of Agriculture and Finance and by the EBRD Director for Albania, Christoph Denk.
According to Minister of Agriculture Edmond Panariti, the agreement is a concretization of policies undertaken by the government for the increase of lending in the agriculture sector in order to transform it in the motor of Albania’s economic development.
The fund worth EUR 75 million is funded by the Albanian government at an amount of EUR 15 million and the rest of it by the EBRD. Such fund will serve as a guarantee for private banks which will provide loans to farmers. “This is a historic development that will increase investments in the agriculture sector and will support the creation of a chain of values and the increase of Albanian exports in this sector,” declared the Minister of Agriculture.
News source/photo credits: ATA
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