EU disburses €90 million in Macro-Financial Assistance to Albania to address the economic fallout from the pandemic

The European Commission, on behalf of the EU, disbursed €90 million in Macro-Financial Assistance (MFA) to Albania on Friday.  This disbursement is the second and last tranche of a €180 million support programme to Albania, which is part of the €3 billion emergency MFA package for 10 enlargement and neighbourhood partners aiming to help them limit the economic fallout from the COVID-19 pandemic. The programme is a concrete demonstration of the EU's solidarity with its partners to help respond to the economic impact of the COVID-19 pandemic.
Paolo Gentiloni, Commissioner for the Economy, said: “I am very pleased to see these funds flowing to Albania today. This disbursement is a demonstration of the EU’s solidarity with the Albanian people, but also of Albania’s commitment to deliver on the important reform agenda agreed with the European Commission.”
EU Ambassador to Albania Luigi Soreca said: “I congratulate Albania for successfully accomplishing the EU Macro-Finance Assistance conditionalities for a total of  €180 million support programme. The EU supports Economic Governance 4 Economic Recovery! We encourage Albania to maintain its credibility and accountability towards EU institutions and to further the implementation of the reforms that are crucial for Albanian citizens.”
The first €90 million disbursement to Albania under this MFA programme took place in March 2021. Albania has fulfilled the policy conditions agreed with the EU for the release of this second and final €90 million disbursement under the COVID-19 MFA programme. These included important measures to strengthen public finance and the resilience of the financial sector, improve governance and fight corruption, and enhance social protection.
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.
With Friday's disbursement, the EU has completed eight out of the 10 MFA programmes in the €3 billion COVID-19 MFA package, and disbursed the first tranches to all partners.
The Commission continues to work closely with all its MFA partners on the timely implementation of the agreed policy programmes. /argumentum.al