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HomeBusinessEU, Germany, Sweden to Back Albania's Innovation Ecosystem with 11.7 Mln Euro

EU, Germany, Sweden to Back Albania’s Innovation Ecosystem with 11.7 Mln Euro

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The European Union, in cooperation with the governments of Germany and Sweden, will provide up to 11.7 million euro ($12.5 million) to strengthen Albania’s innovation ecosystem, the country’s economy ministry said on Wednesday.

The EU will come up with up to 10 million euro of the total funding which is made available to Albania under the second phase of the EU4innovation programme, the economy ministry said in a statement.

Germany’s development ministry will finance up to 1.2 million euro and the Swedish development agency up to 550,000 euro.

The second stage of the programme, which aims to develop capacity for innovation and provide funding for innovative startups, will run until June 2026.

The EU Delegation to Albania launched the project in February 2019, with a total budget of 7.5 million euro, of which the EU provided up to 6.6 million euro.

($ = 0.9331 euro)

Source: See news

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