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TIRANA, January 12 – The Albanian government reported in its website that it has approved two World Bank loans worth a total of 26.7 million euro ($34.7 million) for a land management project. The project aims to support sustainable economic growth in Albania through development of effective land and property markets and improvement of urban infrastructure. Its total cost is estimated at $65 million.
The first loan is worth 10 million Special Drawing Rights, or some 11.5 million euro. It will be given through the bank’s soft-loan wing International Development Association (IDA). The second loan is worth 15.2 million euro. It will be given through the World Bank group’s International Bank for Reconstruction and Development (IBRD).
