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Albania has not received any soft loans from donors for reconstruction

2022-06-07 15:58:59Aktualitet SHKRUAR NGA REDAKSIA VOX
Albania has not received any soft loans from donors for reconstruction
Reconstruction of

Albania has not received a single euro from soft loans provided by foreign donors for reconstruction.

From the data provided by Euronews at the public debt register at the Ministry of Finance and Economy, it results that a total of 16 lines of credit have been received from international financial institutions from 2020 until today, but none of them was aimed at reconstruction.

The Minister of State for Reconstruction at that time and today the number two of the government Arben Ahmetaj stated that Albania was offered 1.15 billion euros during the donors' conference in Brussels, of which 750 million soft loans.

But government officials were also enthusiastic about the credit lines offered to Albania, the reconstruction to date has been financed through public debt: treasury bills and Eurobonds, which have higher interest rates than loans provided by international financial institutions.

Ahmetaj himself even signed a loan agreement worth 90 million euros between Albania and Italy in August 2020 with Ambassador Fabricio Bucci. But, not a single cent of this loan results in the public debt register.

To date, the reconstruction has received 540m euros in budget funding, but none of this has been subject to standard public procurement rules. Taking advantage of normative acts of emergency, most contracts are concluded through restricted procedure and direct negotiation.

If the loans had been obtained from the IMF, EBRD, CF or the World Bank, the authorities would have been subject to strict tendering rules.

The International Monetary Fund has repeatedly called for increased transparency in the use of reconstruction funds, but the government's only response has been to increase the value of contracts by 30% to save companies from potential losses as a result of increased losses. prices of building materials.


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