World Bank makes 266-million-euro loan to guarantee Albania's borrowing, improve roads
- Article by: Associated Press
A
statement from the bank Saturday said that 200 million euros would be
used as guarantor for Albania to pay back a previous 300-million-euro
international loan and also secure money for the country's budget.
The other 66 million euros will be spent on road network maintenance, which has been systematically underfunded.
Albania's government is suffering from a rapidly rising public debt that has reached 70 percent, up from 60 percent in 2012.
Last year, the bank gave Albania another budget support loan of $220 million and $150 million for its energy sector.
The other 66 million euros will be spent on road network maintenance, which has been systematically underfunded.
Albania's government is suffering from a rapidly rising public debt that has reached 70 percent, up from 60 percent in 2012.
Last year, the bank gave Albania another budget support loan of $220 million and $150 million for its energy sector.
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