Germany and France support Albania with €100 million loan for energy sector reforms and renewable projects

Albania’s energy ministry has secured a 100 million euro ($106.8 million) policy support loan agreement with German state-owned development bank KfW and French development agency AFD. The loan aims to facilitate reforms in the energy sector, focusing on the implementation of new policies and projects related to renewable energy, energy efficiency, and domestic market remodeling. Belinda Balluku, the energy minister, emphasized these areas in a social media video released on Tuesday.

The policy support loan, signed during a ceremony, intends to promote climate-friendly energy production according to Niels Annen, the German state secretary. Annen highlighted Albania’s strategic role in the decarbonization efforts of not only the country itself but also the Western Balkans region. This underscores the significance of implementing energy reforms in Albania.

In addition to the loan agreement, Balluku also announced that the winner of a tender for the construction of onshore wind power plants, with a total capacity of 620 MW, would be selected on Wednesday. This announcement reflects Albania’s commitment to expanding its renewable energy infrastructure.

It is worth noting that in 2021, Albania’s economy ministry had previously signed a 100 million euro ($121.2 million) loan agreement with KfW to support energy sector reforms.

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