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The sovereign guarantee for fashions/How will it work and what will the government cover?

2024-03-29 09:00:20Biznes SHKRUAR NGA REDAKSIA VOX

The sovereign guarantee for fashions/How will it work and what will the

The National Economic Council has discussed some of the most current concerns of the economy and business, such as the need for skilled labor in the tourism sector, the support of the industry with material orders to cope with exchange rate shocks and the increase in wages in the public sector. . At the discussion table with enterprises, Prime Minister Edi Rama emphasized that a well-thought-out plan is needed for the professional training of young people.

While the Minister of Finance, Ervin Mete has announced the initiatives that are being undertaken to help the business, giving details of how the sovereign guarantee of 4 billion lek will work for the fashion sector.

"I am highlighting the Sovereign Guarantee instrument that we recently passed with the normative act for the processing industry sector that arose from a request in a similar meeting and was processed in a quick time. We expect to spend the next week in the government to determine the details, details that will probably be even more positive than the sovereign guarantees were at the time of the pandemic. We are talking about a guarantee that covers about 70% of loans from the banking system, for a margin of 1.5 or 2%, for a "grace period" of about 9 months and that we believe that, either for the investment part or for the subject part first that the sector needed, it will be helpful. Just as we need to expand the same mechanisms of risk sharing in the credit and financing sector, and as we need to do a series of other interventions, whether in the diversification of collateral or taking regulatory measures in order to encourage of lending, considering the moment we are in".

On the other hand, Minister Mete emphasized that he had an in-depth discussion with the Governor and the Bank of Albania, with which a joint plan for the promotion of credit is expected to be launched soon, in order to take measures to promote credit.


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