World Bank gives $10 million loan for environmental protections

TIRANA, Aug. 3 – The World Bank has given Albania a $10 million loan for an environment services project.
It aims to support the country’s sustainable land management and increase communities’ incomes in erosion-prone rural upland areas.
The new project will open avenues for alternative livelihoods and promote the financial, economic, and institutional sustainability of land use and natural resources management. It will also offer capacity support to farmers, community organizations, and central and local government institutions to efficiently use EU funding.
The agreement, which was signed by Albania’s Finance Minister Shkelqim Cani and World Bank Country Manager Tahseen Sayed, will cover farmers, forest associations, groups and individuals in 310 rural communes and 2,980 villages in the country, with equal opportunities created for women and vulnerable groups. It will contribute to the conservation of water resources and sustainability of water resources that will benefit the citizens through improved availability and quality of water and reduced flooding, the World Bank said in a statement.
The total project cost is Euro 16.8 million, co-financed by a Trust Fund of Euro 7.3 million from the Swedish Government and a Trust Fund of Euro 2.2 million from the Global Environmental Facility.
Since Albania joined the World Bank in 1992, a total of 82 projects comprising over $1.8 billion of IDA credits and grants and IBRD loans have been provided to the country.