Late, but welcome! After more than a decade of waiting for the realization of the socialists' commitment to establish the "Agricultural Bank", representatives from the largest sector of the economy have pinned their hopes on the "Albanian Development Bank".
Fatbardh Sallaku, rector of UBT, told A2: "I think and really hope that this bank will cover the necessary needs for the agricultural sector. Given the fact that there has been a kind of lack of this financial support and the most important thing is that the state is the guarantor for the main collateral. I say it is sufficient for this phase."
Sources from the Minister of State for Entrepreneurship and Business Climate explain that the Albanian Development Bank will have a headquarters in Tirana and branches in several regions of the country, including rural areas.
"This bank should start working as soon as possible. France and Italy already have such an instrument. If this initiative does not prove efficient, we should think about the Agricultural Bank."
The Agricultural University of Tirana is also expected to be part of the Albanian Development Bank, which will serve as a bridge between farmers and the institution that is expected to be established within the next year," Sallaku declares.
"We will be part of it because our goal is to bring the agricultural sector to where it needs to be and increase the desire for knowledge among young people. This also brings us back to the desired position," added Sallaku.
Although it remains the sector that contributes the most to the Albanian economy with around 22% of Gross Domestic Product, agriculture continues to remain an under-credited sector, almost abandoned by banks.
Banks granted 2.4 million lek in loans to Albanian farmers through October. Compared to a year earlier, loans to the largest sector of the economy increased by only 200 million lek, or 9%. (A2 Televizion)
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