Albania signs $150 million power deal with World Bank
Albania: Albania signed a $150 million loan deal with the World Bank in order to upgrade electricity distribution and transmission would enable the sector to return to financial stability by 2018.
Albania: Albania signed a $150 million loan deal with the World Bank in order to upgrade electricity distribution and transmission which would enable the sector to return to financial stability by 2018.
“We aim to turn a sector weighed down by debt … into a financially stable one starting in 2018.” said Energy Minister Damian Gjiknuri.
Apart from the World Bank loan, the Albanian government will provide more than $125 million to support power infrastructure projects through 2020, reports Reuters.
About $95 million of the World Bank loan will be used to boost the capacity of transformers in the Tirana area, where about one third of Albanians live and supply new metres for 300,000 consumers.
Source: Reuters
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