The Albanian Prime Minister has announced in the “Government – Banks – Farmers” dialogue a new governmental financing program “National Fund of Guarantee for Agriculture and Rural Development”, in collaboration with the ERBD. The program consists in financing farmers by 50% and by transforming the Agency for Agricultural and Rural Development into a mediator between the banks and the farmers. Rama declared that the fund for financing new enterprises in the agricultural sector will increase up to $100 million.
AARD will provide a better support to the farmers in terms of their negotiations with the banks, by easing the financing procedures. “Banks should not increase the interest rate for farmers and should increase the loans’ amount, in order to boost production in this sector,” declared the Prime Minister.
The “National Fund of Guarantee for Agriculture and Rural Development” is a program of the Albanian government in collaboration with the EBRD which aims to take on the risks of the loans taken by farmers. “We will continue to apply the last year’s scheme by financing farmers to the 50% of the investment amount,” added Rama.
News source/photo credits: ATA