ALBANIA LOANS
April 1st, 2004
KEITH NUTHALLTHE EUROPEAN Bank for Reconstruction and Development (EBRD) and the World Bank have teamed up to help fund the construction of a combined cycle power station fuelled by distillate oil in Albania, in a bid to wean the county off overdependence on hydro-electric power. Around 95 per cent of its electricity comes from HEP, with hydrological problems causing shortages made worse by rampant non-payment of bills. The EBRD will be supplying Euro 40 million of the Euro 91-110 million cost of setting up the plant, six kilometres north of the coastal town of ...
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