KFV German bank will provide a fund of EUR 72 million to Albania which will be invested in the electrical energy sector, according to the government. The draft law was approved by the parliamentary Commission of Foreign Affairs on Monday, June 20.
The fund is a soft loan by which the government aims to improve significantly the electrical energy sector in the country by reducing the loss in network and restructure the transmission and distribution system.
EUR 12 million will be invested in improving the efficiency of the electrical energy and the services offered by this sector, while EUR 20 million will be used for the safety of dams in Drini River. The government has also predicted an investment of EUR 40 million in the transmission and distribution system in the capital of Tirana.
The loan comes as another investment of the government in the electrical energy sector on behalf of the ambitious reform in this sector which will continue intensively in the upcoming years. For this, the government has predicted to invest an amount of EUR 500 million within 2018, in order to revive the electrical energy sector and transform it into a profitable economic sector.
News source: Scan TV
Photo credits: Gisela Giardino
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