Germany Helps Albania Boost Water Utilities

Tirana- German government-owned development bank, KfW, signed a 1.5 million Euro loan with Government of Albania on Tuesday, the Ministry of Finance said in a press release.

The loan will be used for building of primary potable water infrastructure in Albania’s rural area.

The loan will have yearly 2 per cent interest and will be paid back in 30 years. German government is the biggest donor in Albania.

Bilateral debts of Albania toward Germany were 157 million Euro on Dec. 2007, one third of bilateral debt of the country.

With a bilateral foreign trade volume of approx. EUR 180.1 million, in 2007 Albania ranked only 104th (exports) and 127th (imports) among Germany’s foreign trade partners. German imports from Albania were worth EUR 36.8 million, while exports to Albania amounted to EUR 143.7 million. (Source: Federal Statistical Office).

Short URL: http://www.albanianeconomy.com/news/?p=1387

Posted by editor on Dec 23 2008. Filed under Banking & Finance, Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry