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Agreements with Germany include funds for dam security

Published

July 13, 2015

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Published:

July 13, 2015

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The parliamentary Law Commission approved the ratification of two cooperation agreements between Albania and Germany in the energy field, Albanian Telegraphic Agency said. According to the deputy Minister of Energy and Industry Ilir Bejtja, for the first time an efficiency fund will be established through the bank system, to support investments in saving energy at small and medium sized opportunities, in houses and municipalities, portal Invest in Albania reported. The second agreement is a grant for the maintenance of Drini cascade.

Ahead of chancellor Angela Merkel’s official visit on July 8, six financial cooperation agreements were signed by German ambassador Helmut Hoffman and Albanian vice premier Niko Peleshi and ministers of finance and economic development Shkëlqim Cani and Arben Ahmetaj. The deal consists of Germany’s grants of EUR 1.5 million and loans of EUR 106 million, Associated Press said.

Most funds will go to the electricity sector, with EUR 40 million for monopoly power producer KESH and EUR 20 million for security of hydropower dams, Reuters reported. Development projects are underway to improve water and power supply as well as waste water systems.

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