EU project to modernise financial management

TIRANA, Oct. 29 – A twinning project on the implementation of a modern financial management, control system and public financial inspection in Albania has been launched to bring the Albania closer to European standards by investing 2.5 million in supporting the reforms of Albania’s public finance management. The Ministry of Finance of Austria and the Ministry for the Economy and Finance of France will team up with the Albanian Ministry of Finance with the support of additional expertise from Netherlands and other Member States, says the EU Delegation to Albania.
The project will share good practices developed within the EU with the Albanian public administration and will foster long-term relationships between administrations. It aims for an improved performance of financial management and internal control procedures, strengthening of the internal audit leading to increased transparency, efficiency and effectiveness in the handling of public funds. This is an important prerequisite not only for the country’s EU agenda but also for sustainable and enhanced economic development and for providing better services to the public. The project will also focus on building up the financial inspection function to detect and fight fraud and corruption.
During the launch ceremony, the Head of Cooperation of the EU Delegation to Albania Yngve Engstr