
World Bank loans Albania $100 mln to enhance lending flexibility, Scan TV, 15/03/2017
Albania has been granted a new loan of 100 million dollars from the World Bank intended to support the strengthening of the financial sector. The decision was approved by the Board of Executive Directors of the Bank. Beneficiaries of the loan will be banks and savings and credit associations, while the main aim is to enhance the flexibility of their lending to the economy. After the loan approval in Washington, World Bank Director for Western Balkans Ellen Goldstein said that reforms supported by this project aim to address the current vulnerabilities of the financial sector by increasing its flexibility. According to Goldstein, these reforms will create the right environment in order for banking and non-banking financial institutions to extend loans to the private sector, and this, in turn, is expected…