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Albania: Islamic Bank finances Tirana-Elbasan highway
21. February 2011. | 13:14
Source: ANSAmed
The Islamic Bank will provide a loan worth approximately 350 million dollars, which according to the preliminary agreement will last for 20 years. Interest on the loan will not exceed 5%.
The Islamic Bank will finance the construction of a 31.7 km section of the new Tirana - Elbasan highway which includes a 4.2 km tunnel.
The Islamic Bank will provide a loan worth approximately 350 million dollars, which according to the preliminary agreement will last for 20 years. Interest on the loan will not exceed 5%.
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Comments (5)
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21. February 2011. 19:00:41
| Ime
0
strange, its strictly forbidden by Quran to take interest on money you afford to lend to the poor! only God knows, how much of those hundred millions will end up to build road.. because there are to many hungry leaders to pass the money from one hand to the other hand and then on to the next.. have you ever seen a hungry man pass his found food in the dumpster to another hungry man???
21. February 2011. 19:47:16
| Ime
0
you are so right....
22. February 2011. 07:50:17
| Albanian
0
Nevertheless, as an Albanian, I appreciate the loan with a low interest rate compared to what it would be in the open market. If loaning with interest is not decent according to the Quran, then the two parties can consider other mutually beneficial arrangements.
22. February 2011. 07:50:17
| Nice.
0
5% interest rate for a 20 year loan.... thats cheaper borrowing costs than greece's. The lender doesn't seem to be making much if the interest is a fixed one. Almost barely keeping with inflation.
22. February 2011. 22:12:04
| Anon
0
To Nice: It's not about the money, but about influence. The Arab countries would rather give Albania cheap money and keep it under their financial control then have the West loan that money.