TIRANA (Albania), May 8 (SeeNews) – The World Bank said it has approved an additional $11 million (13.1 million euro) loan for financing the modernization of Albania’s social assistance system.
“The project will further contribute to improve the equity and efficiency of the social assistance system, including the cash social assistance – known as Ndihma Ekonomike (NE), and disability,” the World Bank said in a statement last week following a meeting of its board of executive directors.
The additional loan would help enhance the development impact of the original project, the bank said.
The total project cost is $244.5 million and the closing date is December 2018, according to information posted on the website of the World Bank.
The objective of the project is to support the implementation of reforms to improve the efficiency of Albania's social assistance programmes.
($ = 0.83785 euro)