A fund worth 6.5 million euros (7.2 million U.S. dollars) to support agriculture and rural economic development in mountainous Albania was set up on Wednesday, according to Albanian telegraphic agency.

The project was developed by Albanian ministry of agriculture, rural development and water administration to support farmers in six rural disadvantaged mountainous regions, and will be implemented by a German agency for international cooperation, GIZ.

Roland Cela, deputy team leader of programme GIZ, said that the grant scheme will focus mainly on investment in farming.

About 70 per cent of the investment value will be used to support farmers and agri-processors. The whole amount of the fund is provided by the German and Danish governments.