Foreign Aid
Through FY 1998, the United States committed approximately US$300 million to Albania’s economic and political transformation and to address humanitarian needs. At the time, this figure comprised about 10% of all bilateral and multilateral assistance offered since 1991. Italy ranks first in bilateral assistance and Germany third. The European Union (EU) has given about US$800 million since 1991 and pledged US$175 million in 1996–99.
In FY 1999, the United States was to provide $30 million through the Support for East European Democracy (SEED) Act, up from $27 million the previous year. The U.S. also was to provide an agricultural commodities grant of $10 million.
The $30 million Albanian-American Enterprise Fund (AAEF), launched in 1994, is actively making debt and equity investments in local businesses. AAEF is designed to harness private sector efforts to assist in the economic transformation. U.S. assistance priorities include promotion of agricultural development and a market economy, advancement of democratic institutions (including police training), and improvements in quality of life. The SEED funding request for Albania for FY 2000 was $25 million.
Read more about this topic: Foreign Relations Of Albania
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