The Ministry of Finances held this Wednesday the ceremony for announcing the winning projects that will be funded by the Italian-Albanian Debt
for Development Swap Program.
The Ministry of Finances announced the 11 winning projects that will be funded by a program for converting the debt that Albania has with Italy. The Minister of Finances, Arben Ahmetaj, listed some of them.
“We will fund 11 out of 57 propositions, the best of them, from various sectors and with a total value of 4 million EUR. The projects answer to specific interest groups and are in line with the development strategies of the Albanian government. The projects cover almost the entire country, geographically, and intervenes in sector of high priority for each of the financed municipalities”, Ahmetaj said.
So far this program has funded 15 million EUR in local projects, mainly in education, health and infrastructure. But the Italian Ambassador said that the fund will be doubled.
“We completed the negotiations for another agreement that will convert the debt for other 20 million EUR. This money will go for programs that support social policies, as foreseen by the agreement. This decision shows the success that we have reached so far”, said Alberto Cutillo, Ambassador of Italy in Albania.
With this new package, the total debt that Italy has freed Albania from mounts up to 40 million EUR. The municipalities profit from these funds by competing with projects in the special unit that manages the program at the Ministry of Finances.
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