The European Bank for Reconstruction and Development (EBRD) is extending a 100 million euro (about 127 million U.S. dollars) stand-by credit line to the Albanian Deposit Insurance Agency (ADIA) to strengthen the stability of Albania's banking system.

According to Albanian Telegraphic Agency, Albanian parliamentary Committee of Economy and Finance approved on Tuesday the ratification of loan agreement between the Albanian Deposit Insurance Agency and EBRD.

Experts from the Albanian Ministry of Finance, while presenting the project before the committee, said that the aim of agreement is to ensure additional funding besides the fund of agency, with view to fulfilling its legal obligations towards depositors. Read the full story EBRD provides 100 mln euros credit to strengthen ALBANIAN banking system