Prime Minister Edi Rama said the “Double Your Business” program will not be available to large companies. It will target startups and small and medium-sized enterprises.
Rama met agrotourism representatives in Tirana. He discussed the “Mountain Package” and new support programs for small businesses.
He said the national program will launch soon. The government, the Bank of Albania, and second-level banks will sign an agreement by the end of April.
The program will offer a government-backed financing line. It will support small and medium businesses that want to grow. Funding may double a business, increase it by 50 percent, or even triple it, depending on the project.
The Bank of Albania will provide direct credit through commercial banks. The government will guarantee the loans with a sovereign guarantee. Interest rates will be lower than commercial loans.
The limit will reach up to 2 million euros. Large companies will not qualify. Startups, SMEs, workshops, and agrotourism businesses can apply.
Rama said the program supports expansion, not only more rooms. Businesses can grow vineyards, farms, dairies, or processing facilities in different locations.
He added the program comes at the right time for production, agro-processing, and exports.
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