German government signs EUR11.4 mln in loans for Albania

Tirana, Jan. 12 (AENews) – KfW Bankengruppe has signed recently four agreements with the Albania government for a total of EUR 11.4 mln in low interest rate loans. The loans will provide financing for energy sector projects, family planning activities and technical assistance for further cooperation in the tourism and environment area.

The signing event was attended by the Vice-President of KfW, Doris Köhn and Albanian Minister of Finance, Ridvan Bode.

As part of the agreement a EUR 9 mln amount will be intended to create a guarantee funds for independent power production investments and for advisory services for small privately owned investors in hydropower plants.

KfW, which represent the German government, has been cooperating with the Albanian government since 1988, when the then Albania’s communist government sought to find financing for the country’s ruined economy. Since that time, the German government has contributed more then EUR 310 million, which has made Germany into one of Albania’s first and major borrowers.

Short URL: http://www.albanianeconomy.com/news/?p=111

Posted by admin on Jan 12 2006. Filed under Economy, General News, Invest-Inform, Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry