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Italian Economic Diplomacy, 04 February – Latest news from the world

Albania launches “One-billion project financing”

The Albanian Prime Minister Edi Rama presented the “One billion project financing” initiative. Nearly one billion dollars per year for the next three years will be made available to finance public investments either to build new infrastructure or to improve already existing ones. The initiative will target three infrastructural sectors: roads, schools and health facilities. The list of projects to be included in this initiative will take into account the national priorities Rama identified, namely the substantial improvement of the road network, especially in tourism areas; the construction and modernisation of school buildings by restructuring 150 schools, and constructing 6 new school buildings. As regards the health sector,  the hospital in Fier will be renovated and new top quality clinics will be built. The Prime Minister invited private entrepreneurs and banks to collaborate to implement private-public partnership projects which, formally guaranteed by the Government, will enjoy a special track streamlining the issuing of bank guarantees. Private investors will be able to submit disputes, if any, to international arbitration. The Prime Minister’s Office will coordinate all projects. Parliament will have to give its formal approval to any investment exceeding a given amount, so to guarantee the transparency of the process. 

Slovakia has used  5% of EU funding 2014-2020 

To date, Slovakia has been able to invest approximately 5 percent of the EU funding programmes for 2014-2020, that set aside for this country a total of 15.5 billion euros. Deputy Prime Minister for Investments and IT, Peter Pellegrini, said that in the course of the current year such funds will be used much more swiftly and announced 189 projects financed through EU funds for 9.6 billion euros, as well as the signing of contracts for a total value of 3.6 billion. Pellegrini, whose recently established office is in charge of financing works through EU funds, said he wished to achieve a greater transparency of transactions, besides cutting down on administrative charges and simplifying applications.

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