"Double your entrepreneurship", financing for businesses - Rama: Up to 2 million euros in support for small and medium-sized enterprises
Financial support for small and medium-sized businesses, with the aim of enabling them to expand their activity and move to a new level of investment.
This is the objective of the government program "Double Your Entrepreneurship", presented during a meeting of Prime Minister Edi Rama with entrepreneurs and representatives of the banking system. The head of government stated that an innovation of the program will be the financing of joint ventures between businesses, while its results will be monitored by a special working group.
"A new element of the program is the support of joint ventures. A task force composed of government representatives, associations and banks, to periodically analyze the results and see where program interventions are needed. We are ready to go up to 1 billion euros in support. We are ready to go up to 1 billion euros in support. 1 billion euros for small and medium-sized enterprises, so that no one can say that I do not have financial support, to make a plan. But there must be a plan. This is money just like the ones that come from the EU. Anyone who has a business idea can apply and receive 2 million euros in loans with an interest rate of only 2-3%. What we aim to do with this program is to support small and medium-sized enterprises to double in size. Those that are medium-sized to grow and become almost large, those that are small to become medium-sized."
Businesses that meet the criteria will be able to benefit from financing with facilitated terms and coverage of up to 70% of the loan through the government's sovereign guarantee.
The Governor of the Bank of Albania, Gent Sejko, said that the financing term has also been extended to 10 years, while the interest rate will be favorable.
“There are 250 million lek available to support small and medium-sized businesses and this amount is expected to increase. We revised the program in terms of term, extending it to 10 years. The interest rate is favorable. Businesses that meet the criteria will have support of up to 70% from the government's sovereign guarantee.”
To assist businesses, a special online page will be created, accompanied by a chatbot. The platform will interact with the Ministry of Economy and Innovation and will provide businesses with information on criteria, procedures and financing opportunities.
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