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Albania to boost lending in agriculture

Xinhua, December 26, 2015 Adjust font size:

The Albanian government will increase lending in the agriculture sector through a national fund, local media reported Saturday.

Through the National Guarantee Fund, worth 300 million euros (329 million U.S. dollars), the government has committed to guarantee lending under favorable conditions to farmers or individuals that want to invest in the agriculture sector, or the increase of employment in rural areas, the Albanian Daily News reported.

Experts said the funding in the agriculture sector will also develop the agro processing sector and will increase the number of employees in this field.

They advise the government to consult with farmers as well as to inform and train the staff of banks that will provide loans to farmers since lending to this sector possesses high risks. Endi