TIRANA (Albania), July 30 (SeeNews) – The German government will provide 440,000 euro ($512,793) in grants to support young entrepreneurs under a programme for sustainable economic and regional development in Albania (ProSEED), the Albanian economy ministry told SeeNews on Monday.
The ProSEED programme intends to deliver up to 110 grants to aspiring entrepreneurs and existing start-ups via the IDEA scheme, the ministry said in a statement e-mailed to SeeNews.
The programme is commissioned by the German ministry for economic cooperation and development and executed by the German society for international cooperation (GIZ). The recipient of financing and the responsible implementing authority in Albania is the ministry of finance and economy.
The overall duration of the programme is from 2017 to 2019. The first call for proposals for grants under the IDEA scheme for aspiring entrepreneurs will be opened on August 1.
“The maximum amount to be financed is 4.000 euro for one-person projects and up to 7.000 euro for multiple persons´ projects,” the ministry said.
($ = 0.85764 euro)