TIRANA, Oct. 11 – A U.S.-backed investment corporation says it has raised $140 million to fund projects in tourism and education, the Associated Press reported.
The Albanian-American Enterprise Fund says it will use the money for nonprofit ventures in former Communist Albania including entrepreneurship and eco-tourism.
The AAEF was started in 1995, with a $30 million grant from the U.S. government.
The Fund’s chairman Michael Granoff announced the new investment projects last week.
Hundreds of guests, including PM Berisha and numerous ministers and Ambassadors, joined the Board of Directors of the Albanian-American Enterprise Fund for a reception on October 6 in honor of the Board’s annual visit to Albania, said the US embassy in Tirana. In remarks to guests, Chairman of the Board Michael Granoff noted the AAEF’s many successful investments in Albania, and previewed the Fund’s transition to a charitable foundation. In his remarks, PM Berisha thanked the USG and the Fund for the Fund’s assistance in promoting economic development and better business practices in Albania.
US foundation pledges $140 million for Albania
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