The opening of the EIB office in Albania is approved - Yzeiri: Loans are offered with lower interest rates than other institutions
The Parliamentary Committee on Economy has approved the agreement with the European Investment Bank for the opening of this institution's representative office in Albania.
The European Investment Bank, which is owned by the 27 EU governments, as one of the largest investors and creditors globally, secures significant funds from capital markets, which it then lends at favorable rates to projects that meet its criteria.
Endrit Yzeiraj, Deputy Minister for Foreign Affairs:
“The European Investment Bank helps raise funds from the public sector for development projects, both within the EU and in neighboring countries. The EIB has invested 458 million euros to date. Most of the investments have been made in infrastructure and energy, but also in railway lines. The EIB is a very important institution from which Albania can benefit. It is interested in opening its office in Tirana and will have the same diplomatic status as other European Union delegation offices.”
The arrival of the European Investment Bank in Albania demonstrates the country's progress towards joining the European Union and economic development. In this way, Albania becomes the second country in the region, after Serbia, to have an office of this institution.
Milva Ekonomi, SP MP:
" What is intended is for the EIB to have a representative office in Albania. In fact, the EIB is an important institution because of the investments it has made in Albania in transport, water or energy projects. The presence of the EIB encourages the arrival of strategic investors. The arrival of the EIB shows that this institution sees Albania as a country with potential for the development of these projects and is a good sign for the country's economy."
The EIB has started its financing in Albania through loans since 1995. So far, the value committed by the bank for financing projects through loans is 457.95 million euros, with the largest share being investments in the transport sector with 56.28%, the water supply sector with 23.37%, the energy sector with 15.29% and other sectors with 5.07%.
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