“Double Your Enterprise”, Prime Minister Rama: The programme is an open door for small and medium sized enterprises, which are the engine of the country’s economy

The National Financing Programme for Small and Medium Sized Enterprises, “Double Your Enterprise”, was presented today as a new support mechanism for Albanian business, through the signing of a new partnership between the government, the banking system and entrepreneurship.

Prime Minister Rama also attended the event held at the premises of the Bank of Albania, where he stressed that the programme aims to provide businesses with access to affordable financing through loans with minimal interest rates and the sovereign guarantee of the state, creating the opportunity for enterprises to take the next step towards expanding and modernising their activity.

The Prime Minister stated that this initiative stems from the concrete need of businesses for accessible financing and represents direct support for those entrepreneurs who have the potential to grow, create jobs and further contribute to the country’s economic development.

“Today, all those who have a small or medium sized enterprise should hear clearly that within a very short time after the signing of this agreement, a programme will enter into implementation which opens a door for everyone to double their enterprise, naturally based on the business plan and on all the other components that are indispensable and irreplaceable for the second level banks,” the Prime Minister said.

Among other things, the Prime Minister explained that a credit line with a minimum interest rate of 2% and a maximum of 3% will be made available for small and medium sized enterprises, accompanied by a sovereign guarantee from the Albanian government ranging from 30% to 70%, depending on the assessed level of risk, in order to significantly reduce the credit risk for the banks.

The Prime Minister described small and medium sized enterprises as the engine of the Albanian economy and as the greatest source of potential for growth, employment and innovation.