World Bank lends Albania USD 25mn for social assistance programme.

By bne IntelliNews May 2, 2011
The World Bank has approved a USD 25mn loan in support of Albanias social security and healthcare sectors, the bank said in a press statement. The funding aims at improving the efficiency, transparency and effectiveness in the allocation of social security and healthcare benefits to vulnerable groups of the population. It introduces incentives for investing in human capital by providing an additional benefit linked to school enrollment and attendance for families with school-age children. Authorities will create unified registry of beneficiaries of social assistance programs. The indexation formula of the disability benefits program will also be changed. We remind that the World Bank has recently increased by USD 25mn to USD 300mn its support to Albania for 2011-2014 in response to the 2010 floods. The bank has provided more than USD 1.6bn to finance 68 projects in Albania since 1991, when the country became a member of the international financial institution.

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