Germany inks EUR 40 million loan for energy sector

The Government of Albania reached a loan agreement with the German government for a project that aims to increase efficiency in the energy sector, Invest in Albania portal reported. The EUR 40 million loan will be allocated by a German bank, official sources say.

Efficiency in the energy sector programme consists of improving the aspect of energy transmission, according to experts. The agreement was reached in the framework of the developmental public cooperation between the two countries.

The network of the energy transmission in the energy system is one of the direct perpetrators of the losses in the network according to energy experts, the report said. Despite the expected improvements in this regard which aim to reduce the losses, the project also aims to install the intelligent meters in buildings and in the energy distribution network to avoid loses, the article said. Such agreement has been considered by the government since in 2011 and now has become reality after being published in the Official Bulletin.