TIRANA, August 4 – The US Embassy in Tirana welcomed Albania’s ratification of a $302 million loan agreement under the Foreign Military Financing (FMF) programme, describing it as strong support for the continued modernisation of the Albanian Armed Forces.
According to the embassy, the funding will help Albania advance toward meeting the Hague Defence Commitment, which calls for defence spending to reach 5% of GDP by 2035.
The US Department of State said the loan will finance the acquisition of key US-made defence capabilities. It added that the programme will strengthen Albania’s military readiness while contributing to Europe’s broader defence capabilities.
President Bajram Begaj signed the agreement into law on July 30 and approved its immediate entry into force, allowing implementation of the programme to begin without delay.
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