World Bank $5 million loan helps pension system

TIRANA, March 17 – The World Bank Board of Directors approved a loan of $5 million to Albania for the Social Services Delivery Project as additional financing to complement the original credit of $10 million to scale-up current project activities related to the administrative reform of the Albanian pension system.
This additional financing is targeted at making improvements in the efficiency and the effectiveness of the Albanian pension system by improving pension system administration, supporting institutional strengthening, including improved capacity for pension policy development and improving public understanding of the pension system.
“The activities supported by this financing,” said Lorena Kostallari, Task Team Leader for the Social Services Delivery Project, “will support the administrative reform of the pension system, develop the Central Archive of contributors and beneficiaries, build capacity for pension policy development, and promote public education on the pension system.”
The project was launched in January 2002 with the objective of improving the standard of living of poor and vulnerable population groups in Albania by.
Increasing their access to effective social care services; assisting the government to develop effective social care policy and improve its capacity for delivery and monitoring of social care services, and improving the efficiency and the effectiveness of the pension system.
To date, the original credit has supported service delivery in 43 daily care centers, offering services under newly developed service standards and policies to more than 25,000 beneficiaries from vulnerable groups. In addition, 13 residential care centers were supported to improve service delivery. Finally, the credit established the legal and strategic framework in the social care area and strengthened capacity at central and local government levels.
Albania joined the World Bank in 1991. The World Bank commitments to the country to-date total approximately $1.4 billion for 68 operations.