Tirana, April 24, 2008 – The World Bank (IBRD) and the Governments of Albania and Montenegro concluded today the negotiations for a new grant of Global Environment Facility (GEF) ) of US$ 4.55 million for the Lake Skadar-Shkoder Integrated Ecosystem Management Project. The main objective of this project is to help establish and strengthen institutional mechanisms for transboundary cooperation through joint efforts to improve sustainable management of Lake Skadar-Shkoder.
Through this project the World Bank/GEF aims to assist the establishment and strengthening of institutional cooperation to operationalize the Bilateral Lake Management Committee and its Secretariat. It will also promote sustainable approaches to economic development of the lake (and its natural resources) by focusing on tourism and fisheries.
The project will achieve its objectives through three main components: (i) Capacity Building for Improved Understanding and Joint Management of the Lake; (ii) Promoting Sustainable Use of the Lake; and (iii) Catalyzing Pollution Reduction Investments. Some project-financed activities will be carried out in both countries and some in each country but all activities will have lake-wide benefits.
The total cost of the World Bank/GEF Project is estimated at US$4.55 million, with US$1.99 million for Albania, and US$2.56 million for Montenegro. The Governments of Albania and Montenegro will provide respectively US$ 940,000 and US$ 8,370,000 in counterpart financing to help meet the project objectives. The project is expected to go for approval to the Board of Directors in May 2008.
Implementation will be undertaken by the Albanian Ministry of Environment, Forestry and Water Administration and Montenegrin Ministry of Tourism and Environment Protection।
Source : World Bank
