Albanian Economy Your Business News from Albania

World Bank supports improvements in Albania’s business enviroment

Washington, Oct. 26 — The World Bank today approved a US$9.3 million Business Environment Reform and Institutional Strengthening Project (BERIS) for Albania. The new project is financed by a Credit and a Loan, blending IDA and IBRD resources for an amount of US$3.7 million and US$5.6 million respectively, marking the first ever IBRD loan for [...]

IMF, careful with big commercial loans for Durres-Kukes road project

Tirana, (AEnews) Oct. 26 – The International Monetary Fund (IMF) reminded the Albanian Government yesterday to be careful when taking loans for construction of the Durres-Kukes road project.

Albania – Brief Summary

Albanian Government to sell its INSIG shares in an international auction

Tirana, (AEnews) Oct. 21 – The Albanian Government will sell 61% of its shares on INSIG at an auction. Sources from the Government said that, for this purpose, an open international tender would be organized, while a decision that supports this has been already issued.

ABA sells 80% of its shares to San Paolo IMI

Tirana, (AEnews) Oct. 20 – The Albanian-American Enterprise Fund (AAEF – sole owner of ABA) has reached an agreement in principal with the Group San Paolo IMI to sell 80% of the shares of the American Bank of Albania (ABA) maintaining a continuing participation of 20%, the Press Release said.

Two agreements, Kosovo to help Albania during times of energy crisis

Tirana, (AEnews) Oct. 18 – Kosovo will export energy supplies to Albania at times of crisis. Two agreements of understanding were signed yesterday between Albanian Minister of Economy, Trade and Energy Genc Ruli and visiting UN Secretary-General’s Special Envoy to Kosovo Joachim Rucker and Kosovo’s Minister of Energy and Mine Et’hem Ceku.

Poverty level reduced in Albania 2002-2005

Tirana, (AEnews) Oct. 17 – The Institute of Statistics (INSTAT) said on the International Day for Poverty Reduction that the poverty level in Albania was reduced in 2005 compared to 2002.

EBRD generates EUR 16 million for Albanian power sector

Tirana, (AEnews) Oct. 11 – The EBRD is providing further support for the development of Albania’s power sector with a new €16 million loan to state-owned power utility Korporata Elektroenergjetike Shqiptare (KESH). The Loan is intended to help improve transmission, support regional integration.

Albania gets its own ZIP code

Tirana, (AEnews) Oct. 10 – Albania will finally have its own national four-digit postal code (ZIP) for the first time. The ZIP code will be different for different cities in the country and it is expected to bring many benefits to its citizens as well as improvements to the overall postal system.

Visa Requirements for Entering Albania

No visa is required for citizens of the United States, member countries of the European Union, New Zealand and Australia and EFTA member countries.