TIRANA, August 24
The European Bank for Reconstruction and Development (EBRD) will provide a loan up to Euro 30 million to the Water and Wastewater Utility Company (UKT) in the capital city. The project aims at assisting the company in reaching the objective of providing a 24-hour water supply by 2021 and for reducing the company’s operational costs by supplying water by gravity versus the high cost of pumping groundwater. This was confirmed in an official statement issued by EBRD. The loan will be granted in two tranches.
The first tranche of up to Euro 15 million will be committed upon signing, meanwhile, the proceeds of the second tranche of €15 million will be determined at a second stage, once a study on UKT’s Strategic Water Resources is completed.
The proceeds of the first Tranche will be used for the capacity of Bovilla Water Treatment Plant to the north western part of Tirana by gravity.
News Source: EBRD