TIRANA, Nov 4 /ATA/- Lending to public corporations increased by 14 percent at the end of September 2019.
Bank of Albania data show that the value of these loans amounted to ALL 22.3 billion or about EUR 181 million at the end of September.
Financing of public utilities has been dominated by loans granted for the purchase of electricity by the Albanian Power Corporation (KESH), during periods of drastic decline in domestic production.
However, in the middle of last year this portfolio was significantly reduced. Most of the loans were refinanced following the disbursement of the first installment worth € 218 million KESH received from the European Bank for Reconstruction and Development.
This drove the lending portfolio of state-owned enterprises to drop sharply to about ALL 19 billion by the end of last year from ALL 32 billion at the end of May 2018.
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