US ratifies loan agreement with Albania - Nufi: Strategic vote of confidence and historic step in defense modernization
The US Department of State has announced the ratification of a $302 million loan agreement for Albania under the Foreign Military Financing program.
According to the official announcement, the funding will help the country fulfill the commitment adopted at the Hague Summit to gradually increase defense spending to 5% of Gross Domestic Product by 2035.
According to the State Department, the loan will be used to modernize the Albanian Armed Forces, through the provision of military capabilities of American origin, while also aiming to strengthen Europe's ability to take a greater role in its defense.
The statement emphasizes that Albania, as a NATO ally, has been closely aligned with the United States on important foreign policy issues.
Following this announcement, Defense Minister Ermal Nufi reacted, describing the agreement as a "strategic vote of confidence" by the US towards Albania and an important step in modernizing the country's defense.
"Gratitude to the United States of America for its unwavering strategic partnership and continued support in building a stronger defense for Albania, the region and beyond. This support will accelerate the modernization of our military capabilities, increase operational readiness and strengthen Albania's contribution to the collective security of the Alliance", declares Minister Nufi.
The agreement with the US was voted on in Parliament on July 27 and was decreed on July 30 by President Bajram Begaj.
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