Albania takes another debt of 180 million euros from EU – It will be used to amortize the consequences of COVID-19

The European Union has made available a sum of 180 million euros for Albania, which will be provided in the form of a loan, in order to face the pandemic crisis COVID-19. The loan agreement between the Albanian government and the European Union, as well as the Bank of Albania as an agent for the borrower has been submitted for discussion and ratification in the parliamentary committees.

According to the report accompanying the agreement, microfinance assistance provided by the EU aims to ease the country’s external financing constraints, ease balance of payments and budgetary needs, strengthen its foreign exchange reserves and help the country address its current weaknesses. external and financial.

According to the document, this assistance from the European Union is complementary to other resources provided by international financial institutions (such as the IMF, etc.) and bilateral donors in support of the country’s economic stabilization and economic reforms. This loan will be used to finance the state budget, in the form of budget support and it is expected that the indicative interest rate of this loan, with the current conditions of the financial markets, will be around 0.5%. Disbursement will be made in two installments.

SCAN

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