The IMF allocates 53 mln euro second and third tranches of EFF to Albania February 6th, 2015

The International Monetary Fund will allocate to Albania the second and third tranches (53 mln EUR), based on the agreement signed on February 28, 2014. The agreement predicts that the IMF will give a 331 million euro Extended Fund Facility soft loan to Albania for a period of 36 months.

Discussions over the EFF loan held on November 17-25 in 2014 between the Albanian government and the IMF delegation, headed by Nadeem Ilahi and at the end of his visit, Mr. Ilahi declared that the economic plan of Albania is going according to the plan. The discussions closed with the signing of an agreement in institutional level between the IMF representatives and Albanian Ministry of Finances, which set the policies Albania would implement for the allocation of the Extended Fund of Facilities by the IMF.

After their continuous visits to Albania, the IMF delegation evaluated the work done by authorities for the implementation of structural reforms by saying that the latest reforms serve as a reliable basis for the revival of the economy and the maintenance of the financial and macroeconomic stability.

The IMF is expected to allocate an amount of 53 million euro as the second and the third tranches of the EFF loan in the second week of this month.

News source/photo credits: ATA