USAID renews development agreement with Albania

The agreement, which was initially ratified in 2013, has been extended until 2030, bringing the total value of the financing up to $97 million (91.2 million euro), the finance ministry said in a press release on Tuesday.

Local media has reported that the agreement’s initial duration was until 2018, whereas initial financing was seen to amount to $35.2 million. However, in 2017 the agreement was extended until 2021 with an additional $31.1 million.

A SeeNews email to USAID seeking confirmation regarding the agreement's prior duration and financing remained unanswered by the time of this publication.

Development objectives of the agreement focus on strengthening Albania’s rule of law, improving governance and boosting the country’s economy.

The renewed agreement must now pass parliament vote.

USAID has invested over $500 million in Albania since 1992 to bolster pluralism, civil society, local government, rule of law, energy and health sectors, as well as sustainable economic growth, according to the ministry announcement.

($=0.940 euro)