November 5 (SeeNews) - The European Commission said on Friday it has disbursed 90 million euro ($103.8 million) in macro-financial assistance (MFA) to Albania intended to mitigate the economic fallout from the Covid-19 pandemic.
This is the second and last tranche of MFA disbursed to Albania following the country's fulfillment of policy conditions agreed with the EU under the MFA programme, including measures to strengthen public finance and the resilience of the financial sector, improve governance and fight corruption and enhance social protection, the Commission said in a statement.
"In addition, Albania continues to satisfy the pre-conditions for the granting of MFA as regards the respect of human rights and effective democratic mechanisms, including a multi-party parliamentary system and the rule of law," the statement reads.
The Commission disbursed the first tranche of 90 million euro to Albania in March.
The disbursement is part of a 3 billion euro MFA package agreed between the European Union and ten enlargement and neighbourhood partners. The financial support is extended through loans at favourable rates.
($ = 0.8674 euro)