Albania to get other loan for big road project

TIRANA, Dec 22 – Albania’s Finance Ministry has opened a bid for a commercial loan ranging from 200 to 250 million Euros for the next year, due to fears that economic downturn can cause problems in state revenues.
“The Albanian Government represented by the Ministry of Finance is requesting an offer for financing of various capital expenditure needs for the year 2009,” said the ministry of finance in a press release.
“Proceeds of the credit will be used in accordance with the priorities defined in the National Strategy for Development and Integration”, the statement added.
Interested investors should submit their proposals by Jan 15. The new loan will be used mainly to finance the Durres-Kukes highway, which is under construction by US-Turkish consortium Bechtel-Enka.
Last year Albania received a syndicated loan of 230 million euro from Alpha Bank and the National Bank of Greece, with interest rate Euribor + 1.25 per cent.
Albania issued its first foreign currency denominated bond in 2006.