Tirana, Jan. 11 (AENews) – World Bank’s Board of Executive Directors discussed Thursday a new Country Assistance Strategy (CAS) for Albania, a document which includes further lending programs of USD 196 million financed by IDA and IBRD, – World Bank officials announced today.

"The goal of the CAS is to support Albania’s National Strategy for Social and Economic Development and the European Union’s Stabilization and Association process with the ultimate objective of EU integration and the attainment of the Millennium Development Goals," says Nadir Mohammed, Country Manager for Albania in the WB press release.

CAS covers the period of 2006-2009 and includes an USD 86 million loan from the International Development Association (IDA) and an USD 110 million loan from the International Bank for Reconstruction and Development (IBRD).

“Priorities of the new CAS include assisting the government efforts in fostering economic growth through support to private sector development and thus creating more jobs; and improving public service delivery, particularly in the social sectors. Governance will be mainstreamed in all programs and projects supported by the CAS”, announced WB.

One of the poorest countries in the Europe, Albania is fighting to escape from a isolated economy to a globally integrated economy between upgrades in structural reforms, investments in educations capacity and communications links with European Union.

Since 1991, the World Bank Group has provided strong support to Albania, including IDA commitments totaling US$820 million, IFC commitments of US$125 million.

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