Prime Minister agrees to facilitate loans for exporters

TIRANA, May 7. -The government will provide a fund to facilitate loans in the amount of 5 million euros for Albanian exporting companies to assist them in competing in the aggressive European market. The fund will be similar to a guarantee for the firms. This initiative was proposed by Prime Minister Berisha during a meeting with the Association of Albanian Exporters. The decision was praised as necessary but not sufficient by businesses. Loans usually require a lengthy procedural process by banks, which is considered a disadvantage to exporters who must compete in the aggressive market since the implementation of free trade agreements and the Interim Agreement with the EU.
Every subject can apply for loans using this guarantee fund. The meeting also included a discussion of the law levying fines and other recent government regulatory measures.
A representative of the Association from Shkodra, Paulin Radovani, called for new legislative measures to assist the export sector and expressed concern at BoA’s strategies to tighten the credit market.
The first quarter of 2007 saw a 28 percent overall increase in export volume which has brought a significant increase in state revenues as well.