320 million loan from WB
17/05/2014 00:00
Redundant guards and employed prisoners left without salaries even though the fund was allocated 5 months ago 27/11 21:15
The government will loan 320 million USD in total from the World Bank.
The Deputy Minister of Finances, Erjon Lucim says that besides the two
installments of 220 million EUR that will circulate this year, there
will be another one in the next year.
“We have planned at least 100 million USD for the next year, while there are talks for new programs, but for the moment it is safer that very soon we will start compiling some measures for the second loan, which will be approved later”, Luci declared.
The Albanian government has secured 900 million USD of sof loans from the International Monetary Fund, the World Bank and the European Union. Luci says that these loans help the economy by injecting liquidity in the market.
“This allows a hit to the economy in the moment it needs it most, and the loan will be returned another time, when the economy will be better and able to pay. Besides this, there is the fact that the loan conditions are very soft. This is the first thing that we aimed for this loan”, declared the Deputy Minsiter of Finances.
According to him, another positive effect of these agreements is the fact that they encourage reforms that help the economy.
“This operation is connected with improving the conditions in the financial market, in order to give more space to a faster growth of loans, which, as we know, is stagnating. This way it could support the economic growth as much as it could support part of the public spending”, he concluded.
The money secured from donators is being used for paying old obligations to business, but the government has foresee to pay 350 million USD this year, 100 million of which have already been paid.
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