TIRANA, August 4-The US State Department has officially announced the ratification of a $302 million loan agreement under the Foreign Military Financing, or FMF, program. The agreement aims to strengthen Albania’s defense capabilities and deepen strategic security cooperation with the United States.
According to the State Department’s official announcement, the agreement will support Albania’s efforts to meet its Hague Defense Commitment. The commitment calls for defense spending to reach 5% of GDP by 2035.
Moreover, the State Department says the loan will help Albania modernize its Armed Forces. The country plans to acquire key US-made defense capabilities. The agreement will also strengthen Europe’s defense capabilities.
The State Department stresses that Albania, as a NATO ally, maintains close ties with the United States on critical foreign policy issues. This includes Albania’s role as a founding member of President Trump’s Board of Peace.
Meanwhile, Defense Minister Ermal Nufi welcomed the formal ratification. He described it as a “strategic vote of confidence from the United States in Albania” and a historic step toward modernizing the country’s defense.
Nufi thanked the United States for its unwavering strategic partnership and continued support. He said the agreement will accelerate the modernization of Albania’s military capabilities, improve operational readiness, and strengthen the country’s contribution to the Alliance’s collective security.
Finally, President Bajram Begaj promulgated the agreement on July 30. He also approved the law’s immediate entry into force.
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