Govt to Grant Lek 49 mln for Businesses in Tourist Areas

TIRANA, June 23

Small and middle-sized businesses that operate in tourist locations in Albania will benefit special funds from the state budget. The government has adopted the decision on the creation of the fund on supporting micro, small and middle sized enterprises that operate in the tourist attraction and historical areas. The fund’s value is Lek 49 million and it will be allocated during a three-year period 2016-2018.
Some Lek 29 million will be granted during this year while the other part of the fund will be divided for 2017 and 2018.
The fund will be distributed as a direct grant through cofinancing and it will cover up to 50 percent of the acceptable cost, but no more than Lek three million. Besides this fund, donators or international financial institutions may be sources of financing.
In such case, the application procedure and the criteria for the selection of beneficiaries will be defined in the agreement that the government will sign with donators. The acceptable costs that can be cofinanced include internal reconstruction of facilities, purchase of equipment or machinery and consulting services on modernising and upgrading the workplace. All those that want to benefit from this fund must submit their application and other required documents to the Albanian Investment Development Group (AIDA).

News Source: Scan TV