Japan to loan Albania 11.1 billion yen for sewerage facilities

TOKYO, Feb. 5 – Japan has decided to provide to Albania about 11.1 billion yen (70 million Euros) in a loan for the country to build sewerage facilities in areas centering on its capital Tirana, Japanese government officials said Tuesday.
The decision was conveyed to visiting Albanian Prime Minister Sali Berisha from his Japanese counterpart Yasuo Fukuda, who held a meeting at the prime minister’s office in Tokyo the same day.
Fukuda also expressed support for the Albanian government’s efforts to promote democracy and a market economy with an eye to joining the European Union and the North Atlantic Treaty Organization, they said.
It is the first time an Albanian prime minister has visited Japan, the officials said.
Berisha would also meet with Finance Minister Fukushiro Nukaga and Emperor Akihito during his stay through Friday.
Half of Albania’s cabinet, headed by Prime Minister Sali Berisha, was on a visit to Japan on a four-day visit to lure Japanese investment to their fast-growing but still poor country.
The delegation included Foreign Minister Lulzim Basha, Finance Minister Ridvan Bode and Trade and Energy Minister Genc Ruli.
“The visit is intended to woo Japanese investors to various areas of Albania’s economy, but other issues, including Kosova’s looming independence, will also be discussed,” read a press release from Berisha’s office.
Albania’s government has been waging a robust campaign to seek foreign investment in its economy.
Last year the government presented the “Albania 1 euro” initiative aiming to increase foreign direct investments after years of stagnation due to a tumultuous transition from the communist command economy to a free-enterprise democracy.
Under the scheme, publicly-owned land and assets are made available to investors for a token price, in exchange for the promise of substantial capital investment.
The scheme is open to both foreign and domestic investors.
Berisha’s centre-right government is also planning a big round of privatization in 2008, which will spell the end of public ownership of the last major assets currently controlled by the state.
The distribution branch of Albania’s power utility KESH, the insurance company INSIG and the only oil refinery in the country ARMO will all be sold off later this year.
The government has also applied the flat-rate taxation system at the exceptionally low rate of 10% at the beginning of the year.
Berisha met Wednesday also with managers of the Japanese Tokushukai group of the health system urging Japanese investors to come and bring their money to Albania.