The US Embassy in Tirana has issued a reaction on Facebook regarding the ratification of the $302 million loan agreement by the US.
The Embassy in response emphasizes that this agreement will support Albania’s progress towards fulfilling the Hague Protection Commitment.
Among other things, this loan will increase defense spending to 5 percent of Gross Domestic Product (GDP) by 2035.
“Today, the United States is pleased to announce Albania’s ratification and signing of a new $302 million loan under the Foreign Military Fund (FMF) program, which will support Albania’s progress toward meeting the Hague Defense Commitment, which calls for increasing defense spending to 5 percent of Gross Domestic Product (GDP) by 2035,” the embassy’s response reads.