BAKU, Azerbaijan, March 14. The European Bank for Reconstruction and Development (EBRD) is extending a 45.75 million euro loan to Albania’s state-owned energy company, Operatori i Shpërndarjes së Energjisë Elektrike (OSHEE), to help restructure its debt and support energy sector modernization, Trend reports.
The loan will refinance part of OSHEE’s 81.5 million euros in short-term commercial bank loans, originally secured in 2021 to fund electricity imports during high global energy prices. The restructuring will provide OSHEE with a more sustainable long-term financing arrangement and free up capital for green investments.
As part of the project, OSHEE has committed to investing up to 45 million euros over the next four years to strengthen Albania’s electricity distribution grid, improve network stability, and support the integration of renewable energy sources. The agreement also includes technical assistance to enhance employee training and improve long-term investment planning.
The financing agreements were signed by EBRD Vice President Matteo Patrone, Albania’s Minister of Finance Petrit Malaj, and OSHEE Administrator Enea Karakaçi. The EBRD has invested more than 2.2 billion euros in Albania through 159 projects to date.