Albanian gov’t allocates fund for tourism entrepreneurship development

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The Albanian government has made available a fund worth 30 million lek (260,000 U.S. dollars) aimed at supporting the country’s tourism entrepreneurship development, Albanian Investment Development Agency (AIDA) said Friday.

According to the agency, small and medium-sized enterprises (SMEs) in Albania’s tourism sector are the ones to benefit from the fund for the period 2017-2019.

“Tourism entrepreneurship development fund provides direct assistance to small and medium-size enterprises (SME) that operate as tourist enterprises, such as accommodation structures for instance hostels, agritourism or traditional culinary services in rural areas, “said AIDA in a press release.

AIDA further said in its announcement that the fund offered subsidies to expenses correlated with approved activities on an expense-shared basis.

“The financial scheme covers 60 percent to 80 percent of the acceptable and approved costs, depending on the project and not above 1 million, “it noted.

However, in order to benefit from the fund, the firms must meet these criteria. They have to be classified as micro or small enterprises, have their address or production site registered within the Albanian territory and provide tourism services in Albania.

They must present a project proposal or business plan that includes all the activities foreseen to be implemented and all the enterprises must be registered at the National Business Center and must have exercised their activity for more than a year.

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