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EU to entrust 71 mln euros for Albania's agriculture, rural development

Xinhua, June 23, 2016 Adjust font size:

Albania will be entrusted with the management of 71 million euros (80 million U.S. dollars) from the European Union (EU) destined for agricultural and rural development, Albanian Daily News reported Thursday.

With additional financing from the Albanian government, the fund amounts to 91 million euros (103 million dollars) in total.

"Administration of such funds is a huge responsibility," Albanian Agriculture Minister Edmond Panariti said Wednesday.

"Procedures must be friendly to beneficiaries. We need to ensure that on the one hand procedures are implemented rigorously and on the other farmers receive in time the funds they need," Panariti added.

EU Ambassador to Albania Romana Vlahutin warned that the European Commission has a very strict procedure which allows it to get the money back if it is not properly managed.

"This is a huge investment, which, if used well and wisely, should lead to a substantial change in the structure of the agricultural economy and the quality of food in Albania," said Vlahutin.

"We encourage the Albanian farmers and agribusinesses to be aware and proactive and take full advantage of this great opportunity." Endi