EBRD Backs OSHEE with €45.75m Loan to Support Grid Modernisation and Green Investment
The European Bank for Reconstruction and Development (EBRD) has approved a €45.75 million sovereign loan to Albania’s state-owned electricity distribution company, OSHEE, strengthening the country’s energy system and supporting its transition to a more resilient and sustainable future.
The financing will be used to restructure part of OSHEE’s short-term commercial bank loans, originally taken on during the 2021 energy crisis to fund electricity imports amid sharply rising global prices. By refinancing these obligations into a long-term facility, the transaction improves OSHEE’s debt profile and frees up capital for strategic investment.
As part of the programme, OSHEE has committed to investing up to €45 million over the next four years to upgrade and stabilise its distribution network. These investments will support the integration of new renewable energy sources, reduce network losses, and improve overall system reliability.
The loan is complemented by technical assistance from the EBRD, including support for OSHEE’s internal training academy, helping to strengthen staff capabilities and improve long-term network planning.
The agreement was signed during an official EBRD visit to Albania and reflects the bank’s continued commitment to the country. To date, the EBRD has invested more than €2.2 billion across 159 projects in Albania, playing a central role in the development of its energy and infrastructure sectors.
