TIRANA (Albania), March 12 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) is providing a 9.0 million euro ($10.1 million) loan to support green energy investment projects in Albania, the EU ambassador to Albania said on Tuesday.
The financing for Albania is provided under the EBRD’s 85 million euro Western Balkans Green Economy Financing Facility (GEFF), Luigi Soreca said in a speech at the EBRD launching event on GEFF in Albania published on the website of the delegation of the European Union.
The GEFF is an EU commitment that assists Albania and the region to make its economy greener through investments in energy efficiency and renewable energy, the EU ambassador noted.
“With the facility launched today, the European Union shows its commitment to implement the Energy Union in Albania and to make its economy greener for the benefits of all citizens,” Soreca added. “Throughout the Western Balkans, the Green Energy Finance Facility is expected to cut more than 21,000 tons in CO2 per year.”
The programme is a joint initiative of the EU, bilateral donors and beneficiary countries cooperating under the Western Balkans Investment Framework (WBIF) and is implemented in partnership with the Secretariat of the Energy Community.
($=0.88957 euro)