TIRANA, Jan 30 /ATA/ – Germany will support important investments in Albania’s energy, tourism and environment sectors through a fund of 124,9 million euros in the next four years, German Embassy in Tirana said on Saturday.
“The German government support, mainly through soft loans, is designed to support waste management in line with the EU standards, rehabilitation of the Fierza hydropower plant and regional development of the southern coastal region and the Korça-Pogradec area, important issues regarding the sustainable and eco friendly development of the country,” the Embassy said in a press statement.
The government was signed by German Ambassador in Tirana Peter Zingraf on behalf of the German government and the Minister of Infrastructure and Energy Belinda Balluku on behalf of the Albanian government.
Energy and Infrastructure Minister considered Germany one of Albania’s strategic partners that have supported the country’s recovery over the decades.
“These projects’ funding will be supported through favourable loan terms provided by the German state-owned development bank KfW, one of our most important and reliable partners in the development of regional infrastructure,” Balluku said.
The first agreement focuses on investments designed to improve electricity production at Fierza HPP.
The second agreement entails investments aimed at boosting tourism capacities to give a fresh impetus to local economy in areas with tourist potential in the municipalities of Himara, Korça, Pograce and Pustec, where a Macedonian minority lives.
The third agreement includes investments in sustainable and environmentally friendly management of solid waste. In the summer, Germany provided a grant of 1.8 million euros to conduct feasibility studies in this sector. A press release from the German development bank (KfW) noted that “solid waste management is an important area within the key municipal infrastructure sector in Albania.”
The study is expected to provide a detailed overview of measures, investments and development models for the establishment, operation and maintenance of sustainable solid waste infrastructure, in line with European Union standards. The project is being carried out in addition to two other studies funded by the Western Balkans Investment Framework (WBIF), as well as through the assistance provided by the Swiss Economic Cooperation and Development Division (SECO) for a sector-wide investment plan.
Albania, a partner country of German development cooperation
On its official website, the Federal Foreign Office considers Albania a partner country of German development cooperation.
“Germany is working with the Albanian Government to promote the development of a social and ecologically sustainable market economy. Since 1988, Germany has provided funding to the tune of over one billion euros, making it one of Albania’s biggest and most important bilateral donors. Germany is the 11th largest direct investor in Albania,” the Federal Foreign Office notes.
/DW/u.sh/
