President Bajram Begaj has decreed the entry into force of a $302 million foreign financing agreement between Albania and the USA. This decree promulgates the law required for the ratification of the military foreign financing (MFF) agreement. With this decree, Begaj also authorized the law to take effect immediately.
The agreement establishes a loan mechanism between Albania, represented by the Ministry of Finance, and the USA, represented by the Defense Security Cooperation Agency (DSCA). The legislative process for this deal was completed when the Albanian Parliament approved the agreement with the USA on April 27, 2026. At that session, only the Socialist Party (PS) voted in favor of the agreement, following a boycott by opposition members.
The terms of the agreement involve the financial support provided by the USA to Albania. The details of the loan amount are specified within the ratified documentation. The action taken by Begaj formalizes the legal standing of the $302 million agreement, allowing the funds to be accessed under the stipulated conditions.
This development marks a significant step in the bilateral financial and defense cooperation between the two nations.
Topics: #begaj #agreement #usa
