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The Council of Ministers has approved today 3 loan and grant agreements for the rehabilitation of the Fierza hydropower plant.
According to the approved decisions, Albania will receive 10,350,000 euros in the form of grants from the banking group KFW Frankfurt AM Main for the rehabilitation of the hydropower plant.
From the same German banking group, Albania will receive 40 million euros in the form of a loan. Grant and loan agreements have been reached between Albania represented by the Ministry of Finance and Economy, and KfW Frankfurt am Main (KfW), as well as the Albanian Electricity Corporation (KESH), (Project Implementing Agency).
Government decisions:
APPROVAL IN PRINCIPLE, THE AGREEMENT OF GRANT AND THE EU project, between ALBANIA (receiver), represented by the Ministry of Finance and Economy, AND KFW FRANKFURT AM MAIN (KFW), and the Albanian Power Corporation (KESH) , (PROJECT IMPLEMENTATION AGENCY), REHABILITATION OF FIERZA HYDROPOWER PLANT
Pursuant to Article 100 of the Constitution and Article 10 of Law no. 43/2016, “On international agreements in the Republic of Albania”, on the proposal of the Minister of Infrastructure and Energy and the Minister of Finance and Economy, the Council of Ministers
VENDOSI:
Approval, in principle, of the EU grant and project agreement between the Republic of Albania, (Recipient), represented by the Ministry of Finance and Economy, and KfW Frankfurt am Main (KfW), and the Albanian Electricity Corporation (KESH) , (Project Implementing Agency), the rehabilitation of the Fierza hydropower plant, with a grant in the amount of 8 350 000 (eight million three hundred and fifty thousand) euros, according to the text attached to this decision.
This decision enters into force immediately.
PRIME
EDI RAMA
In absentia and custom
DEPUTY PRIME MINISTER
ARBEN AHMETAJ
***
DECISION
ABOUT
Approval in principle, the grant ACCOMPANYING THE AGREEMENT BETWEEN THE REPUBLIC OF ALBANIA (receiver), represented by the Ministry of Finance and Economy, AND KFË FRANKFURT AM MAIN (KfW), and the Albanian Power Corporation (KESH), (ENFORCEMENT AGENCY PROJECT), ACCOMPANYING MEASURES FOR REHABILITATION OF FIERZA HYDROPOWER PLANT
Pursuant to Article 100 of the Constitution and Article 10 of Law no. 43/2016, “On international agreements in the Republic of Albania”, on the proposal of the Minister of Infrastructure and Energy and the Minister of Finance and Economy, the Council of Ministers
VENDOSI:
Approval, in principle, of the accompanying grant agreement between the Republic of Albania (Recipient), represented by the Ministry of Finance and Economy, and KfË Frankfurt am Main (KfË), and the Albanian Electricity Corporation (KESH), (Implementing Agency project), accompanying measures for the rehabilitation of the Fierza hydropower plant, with a grant in the amount of 2,000,000 (two million) euros, according to the text attached to this decision.
This decision enters into force immediately.
PRIME
EDI RAMA
In absentia and custom
DEPUTY PRIME MINISTER
ARBEN AHMETAJ
***
DECISION
ABOUT
APPROVAL IN PRINCIPLE, THE LOAN AGREEMENT BETWEEN THE REPUBLIC OF ALBANIA (the Borrower), REPRESENTED BY THE MINISTRY OF FINANCE AND ECONOMY AND Albanian Power Corporation (KESH) (THE IMPLEMENTATION OF THE PROJECT AGENCY) AND KFË FRANKFURT AM MAIN (KfW), ON REHABILITATION OF FIERZA HYDROPOWER PLANT
Pursuant to Article 100 of the Constitution, Article 10, Law no. 43/2016, “On international agreements in the Republic of Albania”, and Articles 26 and 27, of Law no. 9665, dated 18.12.2006, “On state borrowing, state debt and state loan guarantees in the Republic of Albania ”, amended, on the proposal of the Minister of Infrastructure and Energy and the Minister of Finance and Economy, the Council of Ministers
VENDOSI:
Approval in principle of the loan agreement between the Republic of Albania (borrower), represented by the Ministry of Finance and Economy, and the Albanian Electricity Corporation (KESH) (project implementation agency) and KfË Frankfurt am Main (KFË), for rehabilitation of the Fierza hydropower plant, with a loan in the amount of 40,000,000 (forty million) euros, according to the text attached to this decision.
This decision enters into force immediately.
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