World Bank gives Albania 100 million $ loan
14/03/2017 00:00
State nurse is paid without going to work, instead sells drugs from the pharmaceutical warehouse with the support of the director in Bushat 18/04 21:24
The World Bank has given Albania a 100 million $ loan to support state budget, as a reward for fulfilling 10 conditions required to empower the country’s financial system.
“These measures will provide the right environment for banking and non-banking institutions to expand crediting on the private sector thus giving a stimulus for an economic growth”, World Bank said in its press release.
Approval for a new bankruptcy law was part of the 10 point list, as well as state extraordinary intervention on the banking sector and changes on civic procedure code. These measures are expected to further lower bad loans and avoid potential banking crises.
Laws for strengthening supervision on investments fund guarantying citizens savings were also part of the conditions as the World Bank stated a strong financial system is key to lower risks for the economy and support its growth.
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