Growth Plan, EU receives "guarantee" for funds Guidance/Measures for audit and transparent use
The European Union has received a "guarantee" from the Albanian government that the funds to be provided under the Western Balkans Growth Plan will be subject to strong control mechanisms to prevent abuse by beneficiary institutions.
The Ministry of Finance's Instruction, published in the Official Gazette, sets out the procedures, functions and roles for all institutions involved in the implementation and monitoring of the Reform and Growth Facility Instrument (RGF Instrument), in accordance with the National Reform Agenda 2024 -2027.
The European Union has launched the implementation of this new financial instrument aimed at supporting the countries of the Western Balkans, including Albania, on their path towards integration. The funding will be provided in the form of annual grants directly linked to the implementation of reforms.
The implementation of this guideline is based on the principles of internal control and internal audit in the public sector, which include: Good financial management, efficiency and effectiveness in the use of public funds; Transparency and institutional accountability through reporting structures and regular audits; Prevention and detection of fraud, corruption, conflict of interest and other violations; Ensuring the irreversibility of reforms and avoiding double financing.
For this purpose, a National Coordinator will be appointed, who will be tasked with the overall coordination of the Instrument, including the process of implementing reforms and investments. The Coordinator, together with the Ministry of Finance, prepares and signs the security declaration.
On the other hand, each beneficiary institution must ensure: Effective control systems to prevent, detect and address double funding; Transparency system to document the sources of funding for each step/activity; Assurance statement certifying that controls have been implemented and all sources have been reported.
Implementing institutions are required to identify the risk for each reform or investment step they implement. They should draft internal control plans that clearly describe control activities, responsibilities, deadlines, and monitoring methods.
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