Albania to help create NATO defence bank

Albania will be one of 10 countries signing an agreement to create a new NATO defence bank.

The bank will finance defence industry projects, military technology and the modernization of armed forces.

The agreement is due to be signed today during the NATO summit in Ankara.

Prime Minister Edi Rama is attending the summit with senior foreign, defence and intelligence officials, as well as the head of Albania’s state-owned arms producer KAYO.

The move comes as Albania seeks a larger defence role inside NATO and has said it wants to host the alliance’s summit in 2027.

The Ankara summit will also focus on defence spending, support for Ukraine, NATO’s eastern flank and new military technology.