TIRANA, March 19 /ATA/- The World Bank announces that the energy sector recovery project, which was approved in 2015, will be extended by one year.
The Bank says in its recently published document that the proposed restructuring implies: the 12-month extension of the project’s closing date until November 30, 2020 from the original closing date.
The Albanian Energy Recovery Project has two goals: (i) to improve the reliability of electricity supply; and (ii) enhancing the financial sustainability of the energy sector. The project has 4 components: Providing funds for the import of electricity during the rehabilitation of the main hydropower plants in Albania (supported by the World Bank under the Dam Safety Project); Financing to upgrade power distribution infrastructure in the distribution network and metering system; energy transmission network and metering system interventions to strengthen the TSO’s capability to transmit energy and technical assistance with project implementation as well as intervention policies.
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