June 7 (SeeNews) - Albania's energy ministry said it signed a 100 million euro ($106.8 million) policy support loan agreement with German state-owned development bank KfW and French development agency AFD to finance reforms in the energy sector.
Implementation of new policies and projects in the areas of renewable energy, energy efficiency and remodelling of the domestic market will be in focus, energy minister Belinda Balluku said in a social media video published on Tuesday.
The policy support loan from KfW and AFD aims to promote climate-friendly energy production, German state secretary Niels Annen said during the signing ceremony.
“We believe that Albania plays a strategic role in the decarbonization, not only of Albania, but of all the countries of the Western Balkans and this is the reason why we consider the implementation of the energy reform here in Albania important,” Annen said, as seen in the social media video.
Belinda Balluku also announced that the winner of a tender for the construction of onshore wind power plants with a total capacity of 620 MW will be selected on Wednesday.
Back in 2021, Albania’s economy ministry said it signed a 100 million euro ($121.2 million) loan agreement with KfW to support reforms in the energy sector.
($ = 0.935857 euro)