EU Council approves €100mn for Albania’s post-earthquake reconstruction

By bne IntelliNews April 15, 2020

The Council of the EU approved funds of €100mn for Albania to support post-earthquake reconstruction, it said on April 14.

Albania was hit by a strong earthquake on November 26, 2019. The funds were enabled after the Council of EU revised the EU 2020 budget in order to free up funds to respond to the COVID-19 crisis.

"Money is also being made available to help Greece deal with increased migratory pressures, and to support Albania's post-earthquake reconstruction," the Council said in the statement.

The European Parliament should approve the budget revision during its plenary session on April 16-17.

The 6.3-magnitude earthquake that hit Albania in November is estimated to have caused €985mn in damages and requires €1.1bn for reconstruction efforts. 

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