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Bank Austria concludes first soft loan with Albania

  • Guarantee from the Republic of Austria makes hospital modernisation in Tirana possible
  • Medical technology provider AME to deliver equipment to Shefqet Ndroqi University Hospital

A few weeks ago Bank Austria concluded its first soft loan to the Republic of Albania. The country was represented in the negotiations by its ministry of finance. The volume of the loan is EUR 7.5 million and will be used to modernise Shefqet Ndroqi University Hospital, which is located in the Albanian capital of Tirana and has 300 beds.

Soft loans are special aid loans for projects in selected countries that would not be profitable at normal market conditions. The debtor benefits from a particularly low interest rate, long repayment periods, a grace period for the repayment of the loan and a 100 per cent guarantee from the Republic of Austria. The basis for this transaction is a corresponding bilateral agreement that was signed between Austria and Albania in June 2008.

The modernisation of Shefqet Ndroqi University Hospital will be performed by the Austrian company AME International, which has been successful in the field of medical technology for many years. According to Heinz Messinger, one of the managing directors of AME, "The delivery of state-of-the-art medical-technical equipment will make this hospital, which specialises in pulmonary diseases, even more effective. In addition, the hospital will be establishing a new specialisation in cardiology. Particular emphasis has also been placed on expanding the hospital's diagnostic capabilities and developing a modern training and maintenance programme."

Enquiries: Bank Austria Press Office Austria
Tiemon Kiesenhofer, Tel. +43 (0) 50505 - 52819
E-mail: tiemon.kiesenhofer@unicreditgroup.at

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