TIRANA, August 5 – Minister of Tourism, Culture and Sport Blendi Gonxhja said the national program “Double Your Business” aims to improve access to financing for businesses and farmers. The scheme supports investments that increase productivity, modernization, innovation and competitiveness.
Gonxhja highlighted tourism and agro-tourism as sectors with major potential to create economic activity, employment and development across Albania. He also pointed to creative economy, handicrafts and sports as areas with growth opportunities. The program covers micro, small and medium-sized enterprises, as well as registered farmers, and includes sectors such as agriculture, agro-processing, manufacturing, tourism, transport and logistics, technology and information and communication technology, energy, green economy, production services, automation and innovation.
Meanwhile, the initiative supports investments in machinery and equipment, new production lines, automation, digital transformation, artificial intelligence, energy efficiency, capacity expansion, farm modernization and tourism projects. It also aims to help businesses increase exports and meet European Union standards. The program offers financing of up to 2 million euros with interest rates of 2–3%, while the state sovereign guarantee can cover up to 70% of collateral requirements. Loans can have a maximum term of up to 10 years.
In addition, the scheme provides assistance with business plans, technical expertise, investment consultancy and guidance during the application process. It starts with an initial package of 250 million euros and, according to Gonxhja, could enable financing of up to 1 billion euros.
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