| WASHINGTON, June 3, 2004 - The World Bank approved today a US$15 million equivalent Credit for the Water Resource Management Project for Albania. The project will increase the contribution of water resources to sustainable economic growth through increase in agricultural production and reduction of flood risk. The project also aims at completing the sector reform and physical rehabilitation in irrigation, drainage, and flood protection, as well as contributing to the first steps towards the development of water resource management. The total cost of the project is estimated at US$ 40 million and is expected to be financed by US$ 15 million of the IDA credit, and the rest from Government of Albania, Government of France, Government of Netherlands and the Kuwait Fund. The Project will have four components: - Irrigation system rehabilitation - Institutional development for irrigation, drainage and food management - Institutional support for water resource management - Project implementation support In Albania the Bank has been assisting the Government’s program to restore irrigation, drainage, and flood protection through physical rehabilitation and institutional reform. This project will be in continuation of two major Bank projects, the First irrigation rehabilitation project, and the Second irrigation and drainage rehabilitation project. The two projects together have rehabilitated 180, 000 hectares of irrigation facilities and 120,000 hectares of drainage. Both projects have had a positive economic impact in the increase of agricultural product and farm income. The credit will be disbursed on IDA terms with a maturity period of 20 years and a 10-year grace period. Since Albania joined the World Bank in 1991, commitments total approximately US$754 million for 53 projects. For more information about the World Bank work in Albania: http://www.worldbank.org.al Contacts: In Tirana Ana Gjokutaj (355 42) 405 87/88/89 e-mail agjokutaj@worldbank.org Albanian Version |
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