Albania commits 434 mln euro to promote economic growth

The reallocation follows a strong performance by the energy sector, the ministry said in a press release on Wednesday.

Of the total, 12 billion leks is being redirected to support the reconstruction efforts addressing the damage resulting from a 6.4 magnitude earthquake in 2019. The initial reconstruction fund in 2020 was set at 20 billion leks, but was subsequently adjusted to 34 billion leks.

Agriculture support schemes, involving a fuel subsidy programme for farmers, will receive an additional 1.8 billion leks from the reallocation. Earlier in March, the agriculture ministry said that funding for farmers was set at 3.3 billion leks.

The ministry said that the fund for individuals persecuted during the communist era will also receive a portion of the reallocated funds, although the specific amount has not yet been determined.

(1 euro = 105.861 Albanian leks)