EU gives 40 ml EUR fund for public finances and the payment of outstanding debts

Albanian Minister of EU Integration, Klajda Gjosha, announced at the parliamentary Integration Commission for the granting of a 40 million EUR “budget support” fund by the European Union, on behalf of IPA program. “It is the first time that the EU allocates this fund for Albania,” said Gjosha at the meeting. The fund will be given to Albania by the IMF and World Bank, aimed to impact at a better management of public finances and for the payment of outstanding debts.

“The budget support fund is a new financial instrument of IPA program which will be implemented for the first time in Albania under the management of the EU delegation in Tirana. This big achievement makes possible that Albania closes an old chapter and to enter in a new and more important phase on its integration process towards the EU. Even the Project Budget for 2015, shows the importance the Albanian government has given to this process,” added Minister Gjosha.

The new budget 2015 provides an increase of funding for Albania’s EU integration process by 54%, compared to budget 2014. Gjosha declared at the meeting that the Ministry she runs has as priority the informing of public for the continuity of this process. For the upcoming year, in the framework of the EU integration process, the Ministry of EU Integration has planned several activities which involve different target groups.

News source/photo credits: Ministry of EU Integration