World Bank Unveils New Partnership Strategy for Albania

The Skenderbeu monument in Tirana, Albania. Photo by: CharlesFred / CC BY-NC-SA CharlesFredCC BY-NC-SA

The World Bank has announced a new partnership strategy for Albania, with an estimated financing of USD425 million from 2011 to 2014. 

The International Finance Corp. is expected to provide USD120 million to USD150 million for four years, while the International Bank for Reconstruction and Development will allocate approximately USD275 million for the Eastern European country.

The World Bank’s country partnership strategy for Albania is anchored on three major objectives, namely supporting a recovery in Albania through improved economic competitiveness, broadening and sustaining social gains, and reducing vulnerability to climate change. 

The new strategy delves on a more focused lending program, actively involving IBRD and IFC for projects targeted at improving national and municipal infrastructure and the business environment in Albania. 

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    Chiden Balmes

    Chiden, a correspondent based in Seoul, focuses on computer-assisted reporting to provide international development professionals with practical business and career information. He also contributes to the Development Newswire and the Global Development Briefing, two of the world's highest-circulation development publications.