LORES is the newest innovation implemented in the agricultural sector in Albania, a mean that will provide support for thousands of farmers and agro processors in applying for loans in second tier banks in the country.
The project is being implemented by CBS on behalf of the AgroKapital program and is financed by USAID. This innovative tool has been presented to the Albanian market by several second tier banks and is now being presented to institutions by technology experts with the aim to develop the bank system for the rural lending.
The agriculture system is a very potential sector in Albania which employees a considerable number of people but its abilities to absorb funds from the government or other financial institutions are at low rates. LORES project aims to serve as a link between the banks and the farmers, by simplifying the procedures and bureaucracies.
News source: ATA
Photo credits: bykst / Pixabay