The Skavica Hydropower Plant, a half-century-old project of Albania, is expected to be implemented with the help of the United States of America.

This investment and security of the 5G network has brought to Tirana the US Undersecretary of State for Economic Development, Energy and Environment Keith Krach, who signed today the Memorandum of Economic Cooperation between the two countries.

Before the US Undersecretary, the head of government made another promise

We will do our best so that the money coming from friendly countries is not delayed and returns to mutual benefit,” Rama stressed.

Prior to the signing of this memorandum at the Prime Minister’s Office, the Prime Minister said that this memorandum “will significantly affect the opening of a new chapter for direct investments not only American but also foreign.”

Speaking about the Skavica project, Prime Minister Edi Rama said that this turns Albania from a country rich in energy resources but dependent on weather and imports, into a sovereign country in terms of energy production.

It will increase Albanian exports and put on the final path of realization a 50-year-old dream that is the construction of HPP Skavica that turns Albania into a sovereign country in terms of energy production.

The US Undersecretary praised the unification of Albania against the insecure 5G network.

Albania has joined the wave of clean roads and we are satisfied. This is an important step in extending US cooperation and investment. It is an important project, he could not have chosen the best partner for the construction. Skavica will bring additional energy to Albania. This historic project will be a national treasure for the people of Albania

Rama underlined the role of the US in the region: “Thanks to the US today we are in a completely different reality from not many years ago. Today we are talking about cooperation and lasting peace around a table, while yesterday we hear cries and bombs,” Rama said in a joint press conference with Undersecretary of State for Economic Development Keith J. Krach.

The US Undersecretary was also received by President Ilir Meta. The head of state said he welcomes US investment.

This Memorandum of Economic Cooperation is the first to be signed between Albania and the United States of America, after the 1992 Economic Agreement.

According to official statistics, Foreign Direct Investment from the USA has reached this year the level of 123 Million EUR in the first 6 months of 2020, which is the highest in the last 6 years.