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The Government of Albania approved today the receipt of a loan from the European Union for the rehabilitation of the Fierza hydropower plant.
In total, a loan value of 50,350,000 (50 million three hundred and fifty thousand) euros is foreseen.
At today’s meeting of the Council of Ministers it was decided to take the loan in 3 parts from the Bank of Frankfurt am Main (KFw): 8.35 million euros, 2 million euros and 40 million euros.
Below, the 3 decisions of today’s meeting of the Council of Ministers for obtaining this loan for the rehabilitation of the Fierza Hydropower Plant:
DECISION
ABOUT
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 AGREEMENT OF GRANT ACCOMPANYING, between ALBANIA (receiver), represented by the Ministry of Finance and Economy, AND KFW 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 KfW Frankfurt am Main (KfW), 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 KFW 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 KfW Frankfurt am Main (KFW), 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.
PRIME
EDI RAMA
In absentia and custom
DEPUTY PRIME MINISTER
ARBEN AHMETAJ
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