The World Bank announced it had signed a 110.8 million euro loan agreement with Albania to support a resilience and green development-focused programme.
The programme, running through December 2024, aims to strengthen the resilience of the government sector and households, improve the energy market framework, scale up renewable energy and energy efficiency, protect the environment, and reduce the country’s carbon footprint, the World Bank said in a statement.
Albania has acted on matters covered by the programme, including the introduction of a new fiscal policy, making improvements to the renewable energy law, organising a wholesale market for energy trading, and banning the use of single-use plastic bags below a certain thickness.
Financing will be provided in one tranche. Repayment must begin in July 2028 and end in July 2040.
