Germany supports Albania's energy and water sectors with loans, grants worth 107.5M euros

Published July 23, 2015

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 (US$119.3 million) to promote Albania's energy and water supply sectors.

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 (US$1.11 billion) 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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