December 3 (SeeNews) - The European Investment Bank (EIB) will extend a 80 million euro ($90.4 million) loan to Albania for a project aimed at improving the water distribution system in Tirana municipality, the delegation of the European Union to Albania said.
The funds will be used to modernise the existing water distribution network and provide continuous water supply service for over 800,000 people, the EU delegation to Albania said in a statement on Thursday.
The project would lead to the improvement of the drinking water by eliminating the system of small personal reservoirs built on the roofs, which have high risk of water contamination, the Delegation added.
The loan is provided under the EIB’s Economic Resilience Initiative, aiming to mobilise finance to support growth, job creation, vital infrastructure projects and social cohesion in the EU’s neighbouring regions.
($ = 0.8851 euro)