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Sep 01, 2023 12:14 EEST
September 1 (SeeNews) - The World Bank said it signed a 110.8 million euro ($120.3 million) loan agreement with Albania to support a resilience and green development-focused programme.
The programme, running through December 2024, aims to strengthen resilience of the government sector and households, improve energy market framework and scale up renewable energy and energy efficiency, protect the environment and reduce the country's carbon footprint, the World Bank said in a statement earlier this week.
Albania has acted on matters covered by the programme, including the introduction of new fiscal policy, has made improvements in the renewable energy law, organized a wholesale market for energy trading and banned the use of single-use plastic bags below certain thickness.
Financing will be provided in one tranche. Repayment must begin in July 2028 and end in July 2040, the bank added.
($ = 0.9212 euro)
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