Approval of High State Control Law facilitates the way for EU Budget Support Programme – 28 November 2014

03.12.2014

The EU Delegation to Albania Tirana welcomes the Albanian Parliament’s decision on the High State Control Law yesterday. The Delegation congratulates the Albanian Parliament on yesterday’s decision to adopt the High State Control Law. This is not only a major step forward regarding Albania’s efforts to reform the external audit of public funds, it also facilitates the way for the EU’s Budget Support Programme for Public Finance Management.

The Albanian Ministry of Finance has developed a Public Finance Management (PFM) Strategy, which – once adopted before the end of the year – will serve as a basis for the EU’s Budget Support Programme. One of the key conditions for releasing the EU funds was that Albania adopts a revised High State Control Law in line with international standards for supreme audit institutions. This condition has been met with the Parliament’s decision of yesterday.

The EU’s Sector Budget Support Programme for Albania’s PFM reform, the first of its kind for the Western Balkan region, is currently being finalised in Brussels. Once adopted, it will provide € 40 million over three years for Albania’s reform efforts. The Sector Budget Support Programme is part of the wider 2014 Instrument for Pre-accession Assistance (IPA) which amounts to € 67 million. Albania will receive a total of € 650 million in the next six years as part of the EU’s financial assistance for the period 2014-2020 which will help the country to drive the reforms forward, facilitate investments relevant for the accession process and contribute to Albania’s socio-economic development.