Korca’s local government takes on commercial loan
TIRANA TIMES – TIRANA, April 9
The City of Korca has signed the second commercial loan to a local government unit in Albania.
This commercial loan was made possible with the assistance of the USAID Local Governance Program in Albania and USAID’s Development Credit Authority, as part of the technical assistance for local economic development and supporting the implementation of the local borrowing law.
The purpose of the loan is to finance the reconstruction of Korca’s main city square, the completion of ongoing infrastructure improvements on the Republica Boulevard, and reconstruction of the intersection at the Fan Noli Road.
The total amount borrowed is 100 million Lek; with an interest rate on a 12-month Treasury Bill rate plus 0.5 percent.
During his two-day trip in the region, the USAID Director also launched new computerized tax systems in Korca and Pogradec and participated in a regional roundtable on the new Territorial Planning Law.
All are projects developed through USAID’s Local Governance Program in Albania that works with ten municipalities to foster local economic growth, improve local governance, and strengthen civic and private sector engagement in local development.
LGPA’s partner municipalities are: Elbasan, Fier, Fushe-Kruje, Gramsh, Kor襬 Kukes, Lezhe, Librazhd, Pogradec and Shkoder.
