The World Bank declared that the 1.2 billion USD debt they granted to
Albania is related to the progress of the reforms and realization of
investments on terrain.
“We agreed that the government should pay debts to businesses first, and this was realized. We agreed on the pension reform, and that is started. You may call these conditions, but we call them necessary actions. There are other criteria for the investments. We will see the results and the realization. If the projects go according to the deadlines, the funds will be granted. If the realization is slower, the granting is stoped”, says Tahseen Sayed, WB Director for Albania.
The main goal of the agreement between the Bank and the Government is the recovery of economy. But how will these funds be used to reach this objective?
“450 million of 1.2 billion USD will be used this year. The other 750 will go to tourism infrastructure. We see tourism as one of the main contributors for the economic growth. There will be investments for managing the land and for increasing the ability and employment of youth”, Sayed declared.
Sayed says that the benefits of this program for the public and the economy will be high, but he admits there are risks too.
“The biggest risk is related to the main goal of the program, the economic growth. If the situation in the Eurozone and the other neighboring countries will be challenging and unstable, this would be a danger for the objectives of this program and for the economic growth”, Sayed declared.
According to the World Bank Director for Albania, there is only one basic condition for softening these dangers.
“The preservation of the pace with the reform, especially in energy, which is the pillar that will allow the economic growth and future development of the country”, she added.
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