TIRANA (Albania), June 29 (SeeNews) – State-owned Albanian Railways company is inviting expressions of interest for consultancy services to ensure its accounting policies and procedures are consistent with international reporting standards, the European Bank for Reconstruction and Development (EBRD) said on Friday.
The closing date for submitting applications is July 20 and the cost estimate for the assignment is 150,000 euro ($173,496), exclusive of VAT, the EBRD said in a procurement notices.
“It is anticipated that funding for the assignment will be provided by technical cooperation funds managed by the EBRD,” the statement added.
EBRD is currently considering a sovereign loan of up to 36.87 million euro to the government of Albania to finance the rehabilitation of a 34.17 km railway line between the capital Tirana and the city port city of Durres and the construction of a new railway line connecting the Tirana-Durres line with the Tirana International Airport.
Currently, the Albanian Railways’ accounting policies and procedures are not compliant with international financial reporting standards, EBRD noted.
($ = 0.8645 euro)