Tirana, 11 January 2016/Independent Balkan News Agency
The Albanian government and the European Bank for Reconstruction and Development have signed a deal in agriculture. According to the minister of Agriculture, Edmond Panariti, this deal will engage second level banks and the Albanian government and EBRD will act as guarantors.
“The creation of a fund of guarantee will be at the origin of a new process of financing for agriculture, by engaging second level banks. This guarantee consists of a joint contribution between the government with 15 million euros and EBRD which attaches itself to this fund, by introducing a significant amount which is expected to speed up the crediting of agriculture by second level banks”, Mr. Panariti said.
“With this new instrument, we are hoping on making a big step forward in supporting agriculture”, he added.
Representative of EBRD in Albania, Christoph Denk said that this agreement will support the development of Albanian agriculture. The objective of this agreement is to finance projects, by boosting competition and reducing production cost. /ibna/