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Albania, The World Bank sign 75 mln euro loan deal

Apr 22, 2024, 10:22:55 AMArticle by Genta Hodo
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April 22 (SeeNews) - The Albanian government and the World Bank have signed an agreement for $80 million (75 million euro) in financing to support initiatives aiming to reduce pollution in the country’s southwestern land-based water resources, the Albanian finance ministry said.

Albania, The World Bank sign 75 mln euro loan deal
Photo: Albania's finance ministry

The financing will be channeled into three directions: promotion of an integrated approach towards environmental protection, reduction of pollution in one of Europe’s last wild rivers, the Vjosa River, and management, monitoring and assessment of the initiatives, the finance ministry said in a press release on Sunday.

In December, the World Bank said it had approved the $80 million loan under its Clean and Resilient Environment for Blue Sea Project.

Disbursement is set to begin in 2024, while the project is set to conclude in March 29, 2030.

($=0.937 euro)

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