113.6 million euro loan for fiscal and energy reforms - Measures, expansion of the tax base and support for renewable energy
The government will receive a loan of 113.6 million euros to support the second phase of the "Renewable Capacity and Green Development" program, as the draft law for the approval of the loan to be obtained from the International Bank for Reconstruction and Development has been submitted to the Parliament for discussion.
The agreement focuses on three areas of intervention: Strengthening the renewable capacity of the government sector and households, strengthening the framework for the energy market and scaling up renewable energy and energy efficiency, as well as protecting the environment and reducing the carbon footprint.
For the first pillar, among the measures envisaged for implementation are: broadening the tax base, by approving the list of economic activities subject to new tax requirements and expanding the definition of tourism business activity. Also, changes should be made to the audit law, with the aim of increasing transparency and accountability in the statutory audit process.
In the context of strengthening the energy market, promoting renewable sources and energy efficiency, several key measures will need to be taken: to establish a renewable energy operator and its operating rules, including the role of responsible parties in contracts for difference and balancing, to adopt measures for financial support for the use of renewable energy for heating and cooling in households, as well as incentives for private investments in solar and wind energy.
Also, the functioning of the organized energy market through the Albanian Electricity Exchange, ALPEX, will need to be facilitated for consumers.
Regarding the third pillar, the law on extended producer responsibility will need to be adopted, which obliges producers to cover the management of their waste, as well as measures to reduce greenhouse gas and fluorinated gas emissions, through a gradual increase in the carbon tax.
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