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IFC in Albania

Albania became a member of IFC in 1991. As of December 2007, IFC has committed more than $170 million of its own funds in the country and has arranged over $8 million in syndications. IFC investments have financed projects in financial markets, information technology, oil and gas, and manufacturing sectors.

IFC and EBRD each acquired a 19.5 percent stake in INSIG, Albania’s largest insurance company, as part of a privatization effort. IFC and EBRD also financed Vodafone to enable it to develop a nationwide cellular network. This project is the country’s largest debt-financed project to date and the first syndicated long-term loan to the private sector of Albania. More recently, IFC approved a $30 million loan to rehabilitate and expand Fushe Kruje Cement Factory. IFC will also ensure that the project is implemented in an environmentally sound manner.

To further promote Albania’s private sector development and the transition to a market economy, IFC will continue to:

  • Increase support for the financial sector and strengthen financial markets.
  • Assist in restructuring and financing of key strategic sectors: telecommunications, transport, energy, water supply and sanitation.
  • Invest in key industrial sectors such as oil and gas, mining and related industries, and construction materials.
  • Support development of different sectors where Albania has comparative advantages such as tourism and agribusiness.
  • Provide TA to improve performance of regulatory bodies in telecommunications and utilities.
  • Provide advisory services for Public Private Partnerships in strategic and social sectors.
  • Provide financial and advisory assistance to small and medium-sized enterprises. More on investments in Albania.

Advisory Services

In July 2005, IFC opened the new facility to provide advisory services in Southern Europe. Advisory program in Albania is divided in four business lines: valued addition to firms; business enabling environment; access to finance; and infrastructure advisory operations. More on advisory projects in Albania…