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TIRANA, Aug. 17 – Albania’s Property Restitution and Compensation Agency (AKKP) has announced 107 winners who will benefit from 670 million lek (USD 6.7 million, Euro 4.8 million) from this year’s fund to compensate former owners. AKKP said it examined 1,012 requests for compensation, the latest dating to a decision made on September 23, 1994. The property restitution and compensation process in Albania started in the early 90s soon after the country’s communist regime– which had seized private property– collapsed. Financial compensation for expropriated owners started in 2005. Since then, the Agency has awarded 3.75 billion lek (USD 37 million) for expropriated owners during the communist regime.
