Agribusiness is a vital sector of Albania’s economy. It provides employment for around half the population in rural areas and accounts for around 20% of the country’s GDP.  Within agribusiness, agritourism is a blooming microsector. It allows visitors to explore the countryside through its produce and restaurants. 

Albania offers a range of holiday destinations, from dramatic mountains to coasts on the Adriatic and Ionian Seas that offer the joys of the Mediterranean climate. With tourists always looking for a new spot on the map, the country was ripe for discovery.

There is still some way to go before Albania’s infrastructure will fully support modern agribusiness, yet as a result of some infrastructure investment from the government and improved service quality of tourism businesses, visitor numbers have seen a swift uptick over the past decade.  

The Albanian government has put momentum behind rural tourism to benefit local economies and to improve work and development opportunities.

Supporting agritourism to grow

One thriving Albanian agritourism company is Mrizi i Zanave, a farm, hotel and restaurant as well as food production business in Fishta, northern Albania. Some 100,000 guests are served at this agribusiness annually, by 70 workers who are involved in all aspects of the farm’s production, food processing, and restaurant.

The business supports the local agricultural economy, with produce, dairy and meat products additionally gathered from 400 nearby families in the village. In addition to what they grow themselves, they forage for food such as berries or greens.

He added: “However, we live in an area which, despite the difficulties you may have in the development of agritourism, also offers opportunities such as finding organic and natural raw materials. Agribusiness is a sector that seeks improvements and developments every day, while preserving its identity. Our goal is to develop the production of excellent agricultural products.”

The business was recently nominated for an Intesa Sanpaolo Bank Albania award, and has been supported in its development by loans from the bank.

Financing a new agricultural economy

The development of rural tourism, supported by the Albanian government, is a green shoot in the country’s agricultural economy. As well as creating new jobs, it will raise interest in and bring opportunity to rural areas, increasing people’s attachment to these regions.

Intesa Sanpaolo Bank Albania offers customised products for agribusinesses to encourage this type of growth.

Through the agribusiness loan products offered from the Bank, clients can purchase equipment, production lines and modern machinery. They can also buy the necessary materials that will improve their products, build assets or suitable environments for storing inventory, increase the planted areas by investing in greenhouses, or increase their livestock. For all farmers and producers, processors, traders, and collectors, it is offered credit financing, different types of credit lines and advances on contracts for any investment plan that the agribusiness needs. 

“After several years of running a business, I have cooperated with different banks operating in Albania, until I started working with Intesa Sanpaolo. We have found the service to be good, for example the speed at which the bank performs, the low interest rates for businesses and the facilities for obtaining loans,” said Altin Prenga, owner of Mrizi i Zanave.

He added: “It is impossible to develop the business without financial support and Intesa Sanpaolo has offered us very fast services and accelerated procedures in obtaining loans. Cooperation with Intesa Sanpaolo has made our work easier as we feel safer before making any decision for development because we know that we get this kind of support.”