Raiffesen Bank and KfW will finance small HPPs

TIRANA, June 20ؒaiffesen Bank and KfW have signed a deal where they agree to finance the building of small hydropower plants in Albania. The agreement was signed by Oliver J. White, Raiffesen Bank Chief Executive, and Ute Rodrian, KfW Regional Director to Albania, Kosovo, and the Former Yugoslavian Republic of Macedonia.
“KfW will offer guarantees to investors operating in the energy sector and interested in the construction of small HPPs and Raiffesen Bank will offer financing to such projects,” said White.
Raiffesen Bank Albania is a leader in the financial market and is hugely involved in infrastructure projects. The current agreement, announcing the support of KfW to the bank, will increase crediting to a market in full bloom lately due to that fact that the current government has signed or is in the process to sign in the near future over 70 concession deals involving the construction of small hydropower plants. The Albanian energy sector, despite an abundance of hydro resources, is estimated to be far from its full potential use because of old technology, lack of planning and overall mismanagement.