TIRANA (Albania), March 22 (SeeNews) – Albania’s parliament said it has approved a loan agreement worth 32 million euro ($36.5 million) with the German government in support of energy projects.
Germany will provide a soft loan of 30 million euro through its development bank KfW for financing of projects for development of the power grid, as well as additional 2 million euro loan necessary for the implementation and supervision of the projects, parliament said in a press release late on Thursday.
The agreement was signed by the country’s ministry of economy in December.
To date, Germany has invested over 1 billion euro in Albania with special focus to the energy sector, the statement added.
($ = 0.87768 euro)