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The Plan for Economic Growth/ Albania will benefit from 1 billion euros from the EU

2024-03-12 11:23:00, Aktualitet CNA

The Plan for Economic Growth/ Albania will benefit from 1 billion euros from the

The vice-chairman of the National Council of European Integration, Toni Gogu, stated at today's meeting that Albania will benefit from about 1 billion euros from the EU within the Economic Growth Plan.

According to Gogut, the plan will be like a dynamo of Regional and European Integration.

For all the countries of the Western Balkans, an approximate calculation of the benefit has been made, where for Albania it is expected to be 984 million Euros in total, about 1 billion Euros.

"The growth plan is a dynamo that strengthens regional and European integration. As such, there is room to refine it further and increase its power over time. For all the countries of the Western Balkans, an approximate calculation of the benefit has been made (where for Albania it is expected to be 984 million Euros in total, ~1BLN€).

These funds are made available to Albania. We do not compete with any country from the region for them.

Albania is considered as the leading country in the region that will not have any problem with the disbursement and it is expected that the absorption will be at the maximum level. Half of the Fund is expected to directly support the State Budget and the other half of it will be used for investments through the Investment Fund for the Western Balkans/IBIF.

The funds will be conditioned by the reforms, and accompanied by relevant indicators for the disbursement of installments, where every 6 months the progress for each point will be measured by the European Commission and the disbursement will be authorized.

The 50% that will be used for investments through EBIF is expected to generate co-financing with development banks (European Investment Bank/EIB, European Bank for Reconstruction and Development/EBRD, etc.) around 1 to 2 billion euros.

So the total injection expected for Albania in (2024 after approval) 2025-2027 is between 1 bln (500+500) to 2.5 bln Euro investments and direct support in the budget", said Gogu during the meeting./ CNA





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