€90 million in macro-financial assistance to Albania News | WeBalkans

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12 November 2021

€90 million in macro-financial assistance to Albania

Albania

The European Union has disbursed €90 million in macro-financial assistance (MFA) to Albania. This disbursement is the second and final tranche of a €180 million support programme to Albania, which is part of the €3 billion emergency MFA package for 10 enlargement and neighbourhood partners aiming to help them limit the economic fallout of the COVID-19 pandemic. The programme is a concrete demonstration of the EU’s solidarity with its partners,helping them respond to the economic impact of the pandemic.

 

Paolo Gentiloni, Commissioner for the Economy, said, “I am very pleased to see these funds flowing to Albania today. This disbursement is a demonstration of the EU’s solidarity with the Albanian people, but also of Albania’s commitment to deliver on the important reform agenda agreed with the European Commission.”

 

The first €90 million disbursement to Albania under this MFA programme took place in March 2021. Albania has fulfilled the policy conditions agreed with the EU for the release of this second and final €90 million disbursement under the COVID-19 MFA programme. These conditions included important measures to strengthen public finance and the resilience of the financial sector, to improve governance and fight corruption, and to enhance social protection. With today’s disbursement, the EU has completed 8 out of the 10 MFA programmes in the €3 billion COVID-19 MFA package, and disbursed the first tranches to all partners.

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Source: European Union

Photo credits: European Union

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