Tirana Municipality expected to approve ALL 10m fund for young entrepreneurs

The Municipality of Tirana has made available a fund of ALL 10 million to support business initiatives undertaken by the youth of the Albanian capital.

The project that is expected to be implemented this year will have 20 beneficiaries amounting to ALL 5 million for each of them.

The decision that paves the way for the implementation of the project will be discussed and approved at the 26 July meeting of the City Council.

The Youth Employment Promotion Program II aims to support young entrepreneurs who have ideas and business plans that are competitive, thus contributing to their employment and creation of jobs.

This project will include young people from 18 to 35 year old and these enterprises will function like all other businesses in terms of liabilities to the state.

The winners of the project will be selected in three stages.

First, applicants apply with their ideas for admission to the project.

Then, they will be trained on the overall business capability and business plan, and third, the winners are announced.

Initially, they will register their businesses at the NBC and then they will sign an 18-month contract with the Municipality of Tirana to receive funding in the form of grants.

Ideas that will have priority are those for the creation of rural businesses as well as those in the fields of tourism, information technology, textile industry, services and handicrafts.

SCAN

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