First support package
Support for citizens and small businesses (ALL 6.4 billion = EUR 51.7 million)

• On 27 March 2020, the first package of support measures with a total of ALL 6.4 billion was approved by the Council of Ministers of Albania and targeted businesses with a turnover of up to ALL 14 million (≈ EUR 113 000). It addressed to a total of 30 000+ enterprises closed during the pandemic and whose employees will receive a minimum wage (ALL 26 000) over March, April and May 2020.
• Individuals with annual personal income of over ALL 2 million (≈ EUR 16 000) were not eligible for the support package.
• The measures included both self-employed and unemployed family members who would otherwise not receive unemployment support.
• Employees of the informal sector were excluded from the support scheme.
• Payment was doubled for individuals who receive economic support.
• Payment was doubled for individuals who receive unemployment benefits.

Second support package
Support for entrepreneurs and employees (ALL 7.04 billion = EUR 56.9 million)

• On 16 April 2020, the second package of support measures with a total of 7.04 billion ALL was approved by the Council of Ministers of Albania.
• The second package aimed to expand the recipients of the aid to all employees who were affected by the closing of the economic subjects, lost their employment, employees in the tourism sector, commercial centers and in special employments (e.g. Ballsh oil refinery).
• Support for all employees furloughed in the period 1 March – 17 May (for all enterprises active or closed due to the orders of the Ministry of Health)
• Universities and private schools were excluded from the package.
• Subsidy of ALL 40 000 for current and furloughed employees (registered in the tax system) in enterprises with a turnover of up to ALL 14 million which have been shut down due to the orders of the Ministry of Health (excluding 8000 individuals in independent professions, such as merchants, lawyers, notaries, employees in the pharmaceutical sector who benefitted from the payments of Package 1).
• Subsidy of ALL 40 000 (‘war’ salary) for employees in the tourism sector.
• Support of ALL 40 000 for employees in the Ballsh oil refinery (for workers with a salary of less than ALL 100 000 /month ≈ EUR 80.8).
• Economic support for applicants of financial assistance, which have applied and have not been selected due to the points-based system of financial assistance.

Monetary and fiscal support measures

• On 25.03.2020, the Supervisory Council of the Bank of Albania alleviated the monetary policy by lowering interest rates:
• The base rate was lowered from 1.0% to 0.5%
• The interest rate on loans by the Central Bank was lowered from 1.9% to 0.9%.
• The profits tax for all businesses with income 0 – ALL 14 million has been removed for the year.
• The profits tax has been postponed for the:
• Sector of tourism, clothing and shoes until 01.01.2021.
• For all other sectors (except banks, pharmaceutical companies, retail and telecommunications) postponed until 01.10.2020.

Sovereign warranty I
of ALL 11 billion (≈ EUR 105 000)

• Applied to businesses regarding any Level 2 bank of the Republic of Albania.
• Warranty of 100% from the Albanian State.
• To ensure the payment of the salary of three months to the employees affected by the Covid-19 circumstances.
• Subsidy support offered by the Albanian State regarding the bank interest.
• A grace period of 3 months on the payment of the loan principal.

Sovereign warranty II
of ALL 15 billion (≈ EUR 143 087)

• Applied to enterprises in all sectors of the economy.
• Applied to needs with regards to the circulating capital and investments.
• Instrument that allows the sharing of risk with the banks and covers a percentage of the principal of every loan.
• Preferential terms of financing and a repayment period of 5 years.
• A grace period of 6 months on the payment of the loan principal.