“For a year now, the work has begun on establishment of the Sovereign Fund of the Republic of Albania,” the government head announced.

Rama noted that nations rich in such natural resources have established their sovereign wealth funds to balance use of the reserve and preserve oil and gas revenues for the future generations.

“We have launched a concrete work process to consult with Norway’s oil fund, also known as Government Pension Fund, and our sovereign fund will definitely have a profile that will integrate the indispensability to support retired people and balance the whole terrible burden we inherit from the past with the ethical principle that this wealth belongs both to those who lived and worked in this country, as well as to those who were born and will be born here,” PM Rama said.

The government heads said that the sovereign fund is an investment fund that may decide to multiply its revenues by accessing the international market too.

“We are working with the Center for International Development at Harvard University and, in the meantime, we have employed all our contacts with other wealth funds of the Saudi Arabia, Azerbaijan, the Saudi Emirates,” PM Rama concluded.

/k.s/u.sh/