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Ekonomi2025-03-11 11:56:00

World Bank Board approves additional financing of $80 million for Albania, 3 key investment areas

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World Bank Board approves additional financing of $80 million for Albania, 3 key

The World Bank's Board of Executive Directors has approved an additional financing of $80 million to support Albania's agenda for modernization and digital transformation of the public sector, improving access to key services for citizens, especially for vulnerable groups.

The additional funding comes as a result of the progress of the flagship project "Improving Equal Access to High-Standard Public Services through GovTech" ($65 million), which aims to increase access and quality of public services.

The newly approved additional financing according to the WB will expand the program's activity in three important areas:

-Remodeling and digitalization of local government services: This will ensure efficiency in access to a wide range of municipal administrative services, bringing benefits to citizens and businesses.

-Development of a new digital platform for public procurement: By integrating innovation based on artificial intelligence, this platform will increase transparency, efficiency and accountability in public procurement processes, bringing savings and efficiency to the contracts made by government institutions.

-Implementation of a new public finance management system: Through the design and implementation of a new digital public finance management system, the program will help central and local governments to manage the public investment budget for the local population more quickly and accurately.

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