The Albanian government will be allocating 1 billion ALL per year, to incentivize farmers that invest in the production of goods under the ‘Made in Albania’ label.

6,000 farmers will be benefiting from this initiative.

“We will be offering this guarantee in various Banks of Commerce, in the form of investment loans which lowers the risk to 50% of the collateral value,” – said Frida Krifca, minister of agriculture and rural development, adding that she hopes that this will make it easier for Albanian farmers and agricultural processing firms to do business in Albania.

The governor of the Bank of Albania, Gent Sejko, was also present during the presentation of this new initiative. He declared that banks will show their support for the agricultural sector by providing loans to help boost business.

“It is clear that our country’s sustainable development requires us to place greater attention to agriculture, and the growth of our rural population. As more funding is granted to the agricultural sector, greater loans should be provided by banks,” – said Sejko.

Farmers and companies involved in the agricultural processing industry should fill out an application for a loan at their local bank, which will allow them to continue expanding their business.