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World Bank grants Albania $425m in loans

World Bank grants Albania $425m in loans

The World Bank says it has approved loans worth $425 million ((EURO)331 million) to Albania to help economic growth from 2011 through 2014.
Officials from the bank and the Albanian government say the money will be used to help fund several infrastructure projects and improve public health services and other programs aimed at helping low-income earners.
Former-Communist Albania, one of Europe's poorest countries, joined the World Bank in 1991. The Balkan country's economy has been rattled by the debt crisis in neighboring Greece, which is a key source of remittances from emigrant workers.


Updated : 2021-04-22 04:07 GMT+08:00