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Foreign Policy Committee approves Dam Safety Agreement with World Bank

The Foreign Policy Committee approved on Wednesday a draft law on a loan agreement between Albania and the International Bank for Reconstruction and Development (IBRD), part of World Bank group, for the additional financing of a dam safety project. In the presentation of the draft law, deputy Minister for Infrastructure and Energy, Dorina Qinari emphasized that dam safety is an important project and requires a reallocation of funds to advance it. The loan amounts to Euro 12 million and foresees the safeguarding of the hydropower dams on the Drin and Mat river cascades in northern Albania. The project will further contribute to improving the operational efficiency of these dams and enhance the stability of power supply in the regional market, the World Bank said in a statement in May following the approval of the loan by its board of executive directors. The project aims at improving the safety of dams and their performance and availability, extending their life span, and increasing their compliance with environmental safeguards best practices, the World Bank said at the time. "The Drin cascade represents an important asset in the country. The three HPPs in the Drin river cascade: Fierza, Komani and Vau i Dejes with total installed capacity 1350 MW, generate about 70% of total energy supply in Albania which, at recent regional market prices, represents an annual value of about $200 million," the World Bank said. The expected total project cost is Dollar 74.35 million, according to information posted on the website of the World Bank. The remaining part will be co-financed by the European Bank for Reconstruction and Development and the German government through its development bank KfW. 

Source: ATA

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