The Ministry of Finances declared on Tuesday that Deutsche Bank has been announced as the winning institution that will finance Albania’s EUR 250 ml loan. This announcement came after several proposals were reviewed and evaluated by a commission of the Ministry of Finances during April 2nd -7th.
The Albanian government decided to use the World Bank as a warrantor in requesting a EUR 250 ml loan in the international market and made an appeal to all interested financial institutions to submit their proposals.
The press release of the Ministry clarifies that the commission which reviewed the proposals used as main criteria the Present Value as an indicator that predicts how the financing is offered by the bank, the interest rates and other costs.
The proposal presented by the German bank Deutsche Bank was the most convincing proposal for the Ministry of Finances, which will receive a loan based on the “Guarantee Based in Politics” instrument of the World Bank.
News source: Shqiptarja.com
Photo credits: Elliott Brown (Flickr)
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