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EBRD grants Albania, Macedonia to build electricity interconnector

Xinhua, February 23, 2016 Adjust font size:

The European Bank for Reconstruction and Development (EBRD) on Monday confirmed to provide a 13.2-million-U.S.-dollar grant to support construction of the first electricity interconnector between Albania and Macedonia.

The project also aims to help introduce grid efficiency improvements to the infrastructure of MEPSO, the electricity transmission system operator of Macedonia.

During the Western Balkans Investment Summit in Tirana, EBRD President Suma Chakrabarti declared that "Supporting crucial regional cross-border infrastructure and creating larger integrated energy markets increases energy security."

"This project signifies an important step towards establishing a regional electricity market. We are pleased to have a generous contribution from the EU in this very important project," said Chakrabarti.

Christian Danielsson, Director General for Enlargement at the European Commission, said "this project is part of the European Commission's efforts to support the Western Balkans connectivity agenda."

The European Union is the EBRD's largest single donor. In 2015 it made available 179 million euros (about 197 million U.S. dollars) and moreover it has already committed a 37-million-euro loan to the project to boost the regional integration of energy markets in the Western Balkans. (1 euro = 1.10 U.S. dollars) Endit