Albanian government approved the Protocol of Cooperation for Development 2014-2016 between Albania and Italy, at Council of Ministers meeting on January 28. The approval announced by Prime Minister Edi Rama and marks a significant moment for Albania-Italy cooperation, signed on December 21, 2014 by Deputy Prime Minister Niko Peleshi and Italy’s ambassador to Albania Massimo Gaiani.
Italian Cooperation for Development is an active organization in Albania since 1991, and has funded many projects at an amount of more than $700 mln since then. The Protocol will put is disposal a 81.7 mln euro fund, 56.7 mln euro of it will be given as soft loan, 20 mln euro will be used as a debt conversion and the left 5 mln euro will be given as a grant.
But what sectors will be prior to be funded?
The priorities are a stable economic growth by using resources in an efficient way and by encouraging competition. The focus will be the increase of foreign investments, for which will be invested an amount of 22.4 mln euro. Another strategic sector that will benefit from this Italian project is agriculture and rural development, which will be funded by 5 mln euro, energy sector will be funded by 16.2 mln euro and the sector of water supply and sewerage will be funded by 10.5 mln euro.
The project will fund also programs in the social sphere through the second phase of its implementation, by the Program of Debt Conversion, a fund of 20 mln euro. Projects in education will have in disposal a fund of 5 mln euro. For projects in enhancing democracy and civic society, the good governance and territorial-administrative reform, will be given a fund of 0.8 mln euro.
News source/photo credits: Shqiptarja.com