TIRANA, June 3 /ATA/ The Parliamentary Committee on Economy and Finance approved on Tuesday the loan agreement between the Electricity Distribution Operator (OSHEE) and the European Bank for Reconstruction and Development (EBRD) for OSHEE’s sustainability project.
Deputy Minister of Finance Eriona Bejleri stated that the draft law provides for a sovereign guarantee to support OSHEE in securing a €45.75 million concessional loan from the European Bank for Reconstruction and Development (EBRD).
She explained that these funds will be used by OSHEE to refinance existing overdraft facilities totaling €81.5 million with second-tier banks, originally secured in 2021.
She emphasized that, following negotiations with the banks and agreement with the Ministry of Finance, refinancing terms were improved, enabling the agreement with the EBRD.
Bejleri announced that, following discussions among the institutions, it was concluded that the terms offered by the EBRD were more favorable than those provided by domestic banks.
The EBRD will channel approximately 50% of the long-term loan funds via domestic commercial banks currently providing overdraft facilities to group companies, while committing to finance the residual loan amount directly, thereby facilitating a more sustainable financial balance within the local market.
This approved financing of €45.75 million for OSHEE constitutes a direct liability of the Electricity Distribution Operator to the EBRD. /j.p/sm/
