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Governor of the Bank of Albania, Gent Sejko: We have the financing program for agriculture ready

2025-02-06 11:34:41Biznes SHKRUAR NGA REDAKSIA VOX
Governor of the Bank of Albania, Gent Sejko: We have the financing program for
Governor of the Bank of Albania, Gent Sejko

At the roundtable on "Crediting the agricultural sector", the Governor of the Bank of Albania, Gent Sejko, stated that agriculture is 4 times less credited by the banking sector, compared to big business and corporations.

Sejko said that the Bank of Albania has prepared the initiative for the implementation of a financing program for micro, small and medium-sized businesses, opening a new chapter for lending to the agricultural sector.

The Governor of the Bank of Albania also listed the reasons why agriculture has received the least financial support from the bank loan portfolio over the years.

" Credit to the private sector increased by 16% during 2024, a rate that implies an increase of 110 billion lek in the credit portfolio, constituting the main flow of financial support for the economy. The agricultural sector has the weakest performance in relation to the major sectors of the Albanian economy. The reasons are the fragmentation of land, the low level of mechanization, the low horizontal and vertical integration between farmers, the market and other sectors of the economy.

In the same plan, credit to the agricultural sector constitutes less than 2% of bank credit to businesses. The performance still far from the desire and needs that the banking sector has for credit reflects both the reality of the risk that lending to this sector carries as a result of the nature of the activity, its structural problems and the lack of collateral and the high costs of credit.

However, increasing your attention to its credit is a matter of strategic importance.

Studies conducted in this regard have shown that lending to the agricultural sector has twice the impact on poverty reduction, compared to other sectors.

The initiative of the Bank of Albania to implement a micro, small and medium-sized business financing program brings an opportunity to open a new chapter in lending to the agricultural sector. This sector is 4 times less credited than large businesses and corporations. The micro, small and medium-sized business financing program is a qualitative boost for the development of these businesses , "said Sejko.


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