Germany backs Albania with loans, grants worth €107.5m

GMT 23:49 2015 Monday ,06 July

Arab Today, arab today Germany backs Albania with loans, grants worth €107.5m

Finance Minister Shkelqim Cani
Berlin - MENA

Two days before German Chancellor Angela Merkel's visit to Tirana, the German government has signed six loans and grants worth a total of 107.5 million euros to promote Albania's energy and water supply sectors, ABC News reported on Monday.

Finance Minister Shkelqim Cani on Monday said Germany has been one of Albania's main donors since the countries re-established diplomatic ties in 1988, lending over 1 billion euros to sectors such as energy, water and education, as well as rural and urban development.

The support announced Monday, includes grants of 1.5 million euros and loans worth 106 million euros. No financial terms on the loans were given.

Tirana sees Merkel's visit Wednesday as an important part of its efforts to integrate with the European Union and eventually launch full membership talks.

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