Germany 10.56 million euros to face the social and economic consequences of COVID-19 in Albania

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The Minister of Finance and Economy, Anila Denaj held today a meeting with the German Ambassador Peter Zingraf where the intensification of the Albanian-German cooperation during 2020 was discussed.

Denaj praised the support of the German government and the attention to the priority sectors in the country over the years.

Germany remains a strategic partner for Albania's economic development, but also in the framework of EU integration processes.

Minister Denaj on her part informed the Ambassador and the representatives of the German Embassy about the recent government decisions on employment programs and promotion of reintegration in the labor market of displaced citizens, as a result of COVID-19 and on fiscal initiatives in support of the sector private, with a focus on small business. She drew attention to the efforts and commitment of the Government and the Ministry of Finance and Economy for the well-being of public finances, despite the situations created by the earthquake and the pandemic.

Ambassador Zingraf announced the allocation of an additional fund of 10.5 million euros for economic and technical cooperation between the two countries, for the period 2020-2021, in support of the impact of the COVID-19 pandemic, particularly focused on support to SMEs. their development and promotion, but also rural areas and vocational education.

"Increased engagement and reliance in earthquake and pandemic situations are evidence of strong bilateral cooperation. The common priorities and the orientation of the work of the Government and the German partners in the most important sectors in the economy and in the life of the citizens have been key in the continuous cooperation ", stressed Denaj.

Minister Denaj and Ambassador Zingraf also discussed the business climate and the need for permanent public-private dialogue.

Denaj expressed the readiness of the Ministry of Finance and Economy to address any suggestions of the chambers of commerce and industry in the country, and for any further proposals in relation to the increase of foreign direct investment in the country.

Finally, the parties praised the progress of reforms being undertaken in the framework of Albania's integration into the EU during the German Presidency of the Council of the European Union.

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