Life and health insurance will be provided for military personnel on missions abroad, Minister Vengu announces: Financial package also for military factories

Published: Wednesday, 28 August 2024 11:09

 

The lives and well-being of Armed Forces personnel serving on international missions will be safeguarded. This decision was taken during the most recent government meeting and announced by Defense Minister Pirro Vengu.

"We have made a crucial decision to provide a comprehensive financial and legal package that includes life insurance coverage for our Armed Forces personnel on overseas missions. This decision is particularly important for two reasons: first, because we are diversifying our international missions, with Albania increasing its commitment not only to NATO but also to European Union missions, with contributions both on land and at sea. We want to ensure that all our forces deployed abroad are adequately covered for any challenges they might encounter during these long-term missions." - Minister Vengu stated. He also announced the approval of a financial package aimed at supporting military factories, facilitating their revitalization.

"We have excellent news for the military industry. A significant financial package has also been approved through this same normative act, addressing three key elements. First, the settlement of longstanding debts owed by the three complexes of the Albanian military industry in Poliçan, Gramsh, and Mjekës. We are finally resolving a long-standing issue of unpaid obligations to current and former employees who have made invaluable contributions to the military industry, as well as settling debts these state-owned companies owe to municipalities. This financial package not only supports local governments but also helps state enterprises clear accumulated debts. The normative act also provides the necessary funding to establish a state-owned company for the military industry. The law came into effect a few days ago, and now we have the financial package that will enable the creation, reformation, and revitalization of a state-owned company, equipped with the legal and financial tools to enter into cooperation agreements with foreign investors from NATO and partner countries to revive this vital industry."

The law "On the Establishment of a State-Owned Company for the Production and Trade of Weapons, Ammunition, Equipment, and Military Technologies" was passed by the Albanian Parliament on July 27 and came into effect just a few days ago.