Sovereign guarantee for forms, application deadlines and conditions approved by the government

2024-05-22 11:35:50Biznes SHKRUAR NGA REDAKSIA VOX

Sovereign guarantee for forms, application deadlines and conditions approved by

Manufacturing companies in Albania, or as they are otherwise called "fasonets", have until October 31 of this year to apply for sovereign guarantees.

The decision authorized by the state aid commission has been published in the Official Gazette, where more technical details are defined for the 4 billion ALL guarantee.

It states that the guarantee is given when the aid beneficiary does not fulfill the conditions for starting a bankruptcy procedure according to the legislation in force; the guarantee does not exceed 80% of the loan it guarantees; and the guaranteed part of the loan does not exceed the amount of 522.5 million ALL. The borrower must not have unpaid tax obligations at the time of application and must not have problematic loans, with delays of more than 60 days, in the history and at the current moment in the Credit Register. The value of the loan made available by the Lender to the Borrower cannot be higher than ALL 100 million.

The same decision states that the subjects must make the investments foreseen there, such as investments in tangible assets or for the expansion of the enterprise, diversification of production, create new jobs within 3 years, etc.

The government proposed the state guarantee for the fashion sector and the like, to encourage investment in innovation and technology and to buy raw materials. Since the industry was in bankruptcy, the government considers that the guarantee does not harm competition.


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