, but a part of them are yet relevant. nevertheless, i think that some of them are towards addressing, while the other obstacles should become part of a critical assessment and their solution should be an integral part of our next work agenda. in more concrete terms, the first reason on the back of low lending rate is related to the high risk – both real and perceived – that investment in agriculture bears. however, i think this risk is being reduced. on the one hand, the improved support to agricultural production, the improved roots network and the consolidated trade chain for the supply of the inputs in the market, drive to the improvement of this sector ’ s business. on the other hand, promoting agritourism and supporting agribusiness, grow the value added chain and profitability of investment in agriculture. in this context, i would like to greet the albania agribusiness and tourism support facility 1 / 2 bis central bankers'speeches ( aatsf ), which includes the joint contribution of the albanian government and the european bank for reconstruction and development ( ebrd ). this facility provides a significant contribution, around eur 150 million, in both forms : direct loans and supportive guarantee for lending. to this end, by seeing the positive reaction that banking sector is displaying towards this scheme, with four banks already becoming part of it, i would like to encourage the other banks to adopt a more positive approach towards this sector. also, i would like to emphasise that global experience suggests the promotion of private insurance schemes to address risk reduction in agricultural. in future these schemes should become an integral part of this equation. the second reason on the back of low lending rate in agriculture is related to the fragmentation of agricultural land. this fragmentation limits the potential of the economy of scale, reduces the productivity of this sector, and turns it less attractive to the banking industry. in figures, referring to the data of the european commission, a typical albanian farm owns averagely 1. 2 ha land, compared to the average of around 14 ha in europe. at the same time, according to instat data, around 99. 6 % of agricultural businesses hire one to four employees. this ratio is notably higher than the average of other economy sectors. in this context, detaching from the negative emotions that may stem from the memory of the inefficient cooperatives during the communism period, i think that there is a need for higher awareness of the albanian farmer about building on partnerships and collective

the book “ personal finance in your hands ”, conceptualised for high schools, incorporated as an elective subject in high - school curriculum, and distributed at schools, training of economics teachers also included. this difficult process has consumed considerable human and financial resources, but the interest aroused fully justify it. education institutions, and students that will have long term benefits from financial education, have positively expected this initiative. along with them, the whole economy will also benefit. financial education and financial stability are two important issues and two examples of the avant - garde policies pursued by the bank of albania. these policies have in common the fact that their effects on changing the behaviour of individuals, businesses and overall economy are gradual and life - long. in both cases, what matters is the side of movement, the direction in which these policies lead the economy. credibility to institutions, confidence in the financial system and financial literacy help people not only in managing their financial affairs and raising their standard of living, but also in proposing and supporting the right policies. they also contribute to sustainability and efficiency of the financial system for the whole economy. improved macro - financial management and financial education help each - other for a successful journey. today ’ s activity, organised by both central banks of one nation, is also part of this journey. currently, we should keep our focus on and harmonise the central banks ’ positions to ensure macro - financial stability, as the only way that enhances the credibility of economies in our region and improves the foreign investment climate. cooperation and coordination of policies of central banks and financial authorities for creating a regional market, will increase the value of existing investments and of our economies in general. harmonisation of economic agendas to maintain macroeconomic and financial stability, increase opportunities for regional cooperation and open new joint projects, is the only way for promoting new private investments and attaining the real convergence of our economies. ladies and gentlemen, let me once more congratulate you for organizing this event and for your good work done so far. it is wonderful to see so many individuals and organisations working for one goal, for economic education of albanians, for boosting confidence in financial institutions, for good management of the economy nation - wide, for making the best choices to ensure future economic prosperity. bis central bankers ’ speeches