Tuesday, May 5, 2009

Albania borrows 250 mln euros from Deutsche, Alpha

By Benet Koleka

Reuters. Albania borrowed 250 million euros from Deutsche Bank and Greece's Alpha Bank to fund its investment programme, including a road to newly-independent Kosovo, the Finance Ministry said on Monday.

Securing the financing will help Albania complete ambitious infrastructure projects without borrowing from local banks, boosting the Balkan country's financial stability.

Albania holds parliamentary elections on June 28, and it is not eligible for funding from the International Monetary Fund (IMF) since it has not renewed its accord with the IMF, which sees its GDP grow O.4 percent in 2009 from 6.8 percent in 2008.

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