Spain gives micro-credit funds worth 19 million euro

TIRANA, Feb.26 – In the context of the Spanish AECI program for granting micro credit loans worth a total of 19 million euro an agreement was reached with the company ASC-Union, for a total of 5 million euros. Out of these, a sum of 3 million euro was allocated to the BESA foundation and the rest to the company PSHM.
The Spanish Ambassador Montobbio said that the focus of these investments is the sectors of education, healthcare and the social development of the country. AECI is the Spanish Agency for International Cooperation and has a branch for micro-credit that work for years in Albania and promotes the economic progress through micro-credit loans. Former projects include a 9 million euro fund for an electric power station in Fier. The agency targets small and medium business in order to lower poverty both in urban and rural areas.
AECI had its first agreements in 2004 with ASC Union and Foundation “Besa”, for a total amount of 4.5 million euro. This was followed by a specific deal with BESA for a loan of 1.5 million euro.