$14 million to support agriculture

TIRANA, June 7 – Government has made available a 1.4 billion lek fund (14 million dollars) to support agriculture and rural development, the Agriculture Ministry said in a statement. Some 220 million lek (2.2 million) dollars will be provided as a guarantee fund to support lending for agribusiness. The fund guarantees 50 percent of the principal of loans taken to invest in agricultural activities.
The Ministry says all legal businesses operating in the collection, preservation, trade, processing, and export of agricultural products can apply to benefit financial support during this year.
Agriculture Minister Genc Ruli said the ministry has selected fruit, vegetables, dairy and meat as its priority group of products to support the agriculture.
Applications are made at the Rural Agricultural Development Agency.
With 58 percent of total labour and 19 percent of GDP the agricultural sector continues to be one of the most important sectors of the Albanian economy.
About 56 percent of the Albanian population live in rural areas, where agriculture is the main activity.