Rama: Doubling of the economy's financing capacity, bad loans fell to negligible levels
Prime Minister Edi Rama stated today that the doubling of the economy's financing capacity by second-tier banks clearly demonstrates with facts that the economy is in a healthy state and with great potential for further growth.
Rama was present at the signing of the new partnership between the state, the banking system and Albanian entrepreneurship for the national financing program for small and medium-sized enterprises "Double your Entrepreneurship". The State-Bank-Entrepreneurship agreement signed today provides for 250 million euros in support with low-interest loans and 30 million euros in sovereign guarantees for the financing of small and medium-sized enterprises.
Rama, during his speech, brought to attention the statistics of lending by second-tier banks, while announcing that 5 years ago credit in Albania was around 5 billion euros. "Today, after 5 years, credit in Albania is 10 billion euros. We are in a doubling of the financing capacity of the economy by second-tier banks, which clearly shows with facts that the economy is in a healthy state and with great potential for further growth," said Rama.
Meanwhile, the Prime Minister stressed that bad loans have fallen to negligible levels, from a potential threat to the economy. Rama stressed that “a decade ago bad loans were almost 25%”. On the other hand, the Prime Minister stressed that in the last two years alone, new loans have almost reached the 5 billion ceiling, which is something extraordinary.
"This is one more reason to take a courageous step thanks to the cooperation and total willingness of the Bank of Albania to support economic growth through the growth of small and medium-sized enterprises," said Rama.
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