Germany to lend 100m euros worth of electricity development to Albania

The electromagnetic system will be reformed and strengthened further, as a loan worth 100m euros has just been signed between the government and the German Bank for Development, at the Ministry of Finance and Economy.

“The government has taken the pledge to continue work for several years now, a job which has some concrete results, making full reality the functioning of the Energy Stock Exchange or otherwise AEPX and the gradual opening of the retail market, along with the creation of a competitive energy market”, said Anila Denaj, Finance and Economy Minister

On the other hand, Germany's ambassador to Albania, Peter Zingraf, said Germany is one of the main allies to support our country.

The German government supports reform of the transformation of the energy market in Albania, which is an important step on Albania's road to the European Union, as it aims to create a transparent market that will boost Albania's economic growth and facilitate private sector investments in the energy market”, Peter Zingraf said.

The loan, in soft terms of 100m euros, has a maturity of 12 years, including a three-year period of free principality.