U.S. Ratifies Loan Agreement with Albania, U.S. Embassy Reacts

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The U.S. Embassy in Tirana has issued a statement on Facebook regarding the ratification of the $302 million loan agreement between the United States and Albania. The embassy said the agreement will support Albania’s progress toward fulfilling the Hague Defence Commitment.
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Among other objectives, the loan will help increase Albania’s defence spending to 5% of Gross Domestic Product (GDP) by 2035.

“Today, the United States is pleased to announce the ratification and signing by Albania of a new $302 million loan under the Foreign Military Fund (FMF) program. The loan will support Albania’s progress toward meeting the Hague Defence Commitment, which calls for increasing defence spending to 5% of Gross Domestic Product (GDP) by 2035,” the embassy said in its statement.

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