Albania receives a $302 million loan from the United States for strengthening its military

The Council of Ministers has today approved the taking of a loan of 302 million US dollars from the United States in the framework of external military financing.

This amount of money will be invested in the purchase of military equipment or assets in the United States.

The decision of the Council of Ministers APPROVES, IN PRINCIPLE, THE DIRECT LOAN AGREEMENT BETWEEN THE REPUBLIC OF ALBANIA, REPRESENTED BY THE MINISTRY OF FINANCE, AND THE UNITED STATES OF AMERICA, REPRESENTED BY THE DEFENSE SECURITY COOPERATION AGENCY (DSCA), IN THE FRAMEWORK OF FOREIGN MILITARY FINANCING (FMF)

Pursuant to Article 100 of the Constitution and Article 10 of Law No. 43/2016 “On international agreements in the Republic of Albania,” as amended, upon the proposal of the Minister of Defence and the Minister of Finance, the Council of Ministers

DECIDES:

Approval, in principle, of the direct loan agreement between the Republic of Albania, represented by the Ministry of Finance, and the United States of America, represented by the Defense Security Cooperation Agency (DSCA), in the framework of Foreign Military Financing (FMF), with a loan in the total amount of 302,000,000 (three hundred and two million) US dollars, according to the text attached to this decision.

This decision enters into force immediately.

THE PRIME MINISTER

EDI RAMA

“KORÇA BOOM”