Second Additional Financing for Energy Community of South East Europe APL Program APL 5 for Albania (WB-P166469)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Albania
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 25, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Albania
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Hydropower
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 14.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 21.75 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 3, 2018

Disclosed by Bank Mar 17, 2018


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Project Description

This project provides additional financing for the Energy Community of South Eastern Europe project. According to Bank documents, this project aims to attract investment in gas networks and power systems, and enhance the energy security of South East Europe and the European Union by providing incentives to connect the Balkans to Caspian and North African gas reserves. 

Components include safeguarding the major hydroelectric dams in Albania and improving their operational efficiency.

Investment Description
  • World Bank (WB)
Private Actors
Contact Information

World Bank
Arturo S. Rivera
Lead Energy Specialist

Gazmend Daci
Senior Energy Specialist

Borrower/Client/Recipient
Albania
Arben AHMETAJ
Minister of MoFE
info@financa.gov.al

Implementing Agencies
Albanian Power Corporation (KESH)
Agron HETOJA
General Manager

ACCOUNTABILITY MECHANISM OF WORLD BANK
The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.