Albania hails record US defense agreement with preferential loan terms

Former Minister of Defense and Socialist Party MP of Albania Pirro Vengu stated that the loan agreement with the United States of America is the largest financing agreement in the history of the country’s defense, which enables the purchase of American systems, equipment and armaments.

Speaking on television, Vengu said that thanks to this agreement, 302 million USD go for a safer Albania, CE Report quotes ATA.

According to Vengu, “The national security is above politics and therefore there is always a consensus”.

Vengu added that this is a program that was initiated several years ago and Albania becomes a beneficiary for the first time as a good part of the allied countries on the eastern front.

“I am not authorized to make public the systems and equipment, but I can say that the terms that the US Congress has put to Albania are very preferential, even compared to other allies”, he added.

Earlier in the day, Finance Minister Petrit Malaj also said during a briefing for the media that, at the request of the American side, the terms of the agreement will remain confidential.

“We have been asked by the United States to maintain the confidentiality of the terms of the agreement. However, I can say that the financial terms offered are very competitive for a loan of this nature,” said the minister of finance.

He emphasized that the agreement is an important instrument for financing investments in the defense sector, further strengthening the strategic partnership between Albania and the United States.

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