# Council Decision of 29 April 2004 providing macro-financial assistance to Albania and repealing Decision 1999/282/EC (2004/580/EC), Article 3

Extent: E+W+S+N.I.

1. The loan and grant components of this assistance shall be made available by the Commission to Albania in at least two instalments. Subject to the provisions of Article 2 and a satisfactory assessment in accordance with Article 2(2), the first instalment shall be released on the basis of a satisfactory track record of the macro-economic programme of Albania under the present Poverty Reduction and Growth Facility with the IMF.
2. Subject to the provisions of Article 2, the second and any further instalments shall be released on the basis of a satisfactory implementation of the abovementioned programme, and not before one quarter after the release of the previous instalment.
3. The funds shall be paid to the Central Bank of Albania. The final recipient of the funds will be the Central Bank of Albania, to the extent that the assistance is intended to reinforce the country's reserves, or the Ministry of Finance if it is intended for budgetary support purposes.

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Source: https://www.legislation.gov.uk/eudn/2004/580/article/3 (the official version)
Page: https://openlegislation.uk/eu-decision-2004-580/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.