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WB to allocate US$163 mln to fund Albania's infrastructure

Xinhua, February 3, 2015 Adjust font size:

The World Bank will allocate 163 million U.S. dollars for Albania to develop its infrastructure, the Albanian Daily News reported on Tuesday.

According to the report, the fund will be given to the Balkan country only if those projects it presented to the World Bank (WB) meet the requirements of the global body.

The World Bank disbursed a record-high of 316 million U.S. dollars for various projects in Albania in 2014, with a focus on the energy sector, the pension reform, the improvement of social services and public finance.

The Bank, one of the most important international institutions in funding projects in developing countries, has started operation in Albania since 1992 and the total amount of funds it has given to Albania reached 2 billion U.S. dollars, covering over 80 projects in the economic and social spheres.