Also available in Montenegrin Contacts
In Tirana: Ana Gjokutaj (+355 69 20 29 979) agjokutaj@worldbank.org In Podgorica: Jan-Peter Olters (382-81-665-353) jolters@worldbank.org In Washington: Michael Jones (+1-202) 473-2588 Mjones2@worldbank.org WASHINGTON, May 27, 2008 – The World Bank today approved a US$4.55 million Global Environment Facility (GEF) grant (US$1.99 million for Albania, and US$2.56 million for Montenegro) for the joint Albania-Montenegro Lake Skadar-Shkodra Integrated Ecosystem Management Project. The funds will help both countries manage Lake Skadar-Shkoder more efficiently and in a more environmentally-safe manner by promoting sustainable development. This will include a special focus on tourism and fisheries that will also help encourage action on some priority pollution sites. “This project will yield important economic and environmental benefits on a local and national scale by encouraging the development of sustainable tourism, promoting greater market access for fishermen and helping to increase enforcement against unsustainable fishing practices,” said Monique Barbut, CEO and Chairperson of the Global Environment Facility. “The importance of regional cooperation and strengthening institutions for common environment management cannot be understated, particularly as both countries aspire to join the European Union. The project will help Albania and Montenegro to act on their shared desire to help lay a more sustainable foundation for future generations,” said Karin Shepardson, World Bank Team Leader in the Eastern Europe and Central Asia Region. 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. Both the Albanian Ministry of Environment, Forestry and Water Administration and Montenegrin Ministry of Tourism and Environment Protection will implement the project. Albania joined the World Bank in 1991. World Bank commitments to the country to date total approximately US$925 million for 64 operations. Montenegro joined the World Bank as an independent country in 2007. Currently, the Bank's commitments to the country total US$46 million for seven active projects. About the GEF The Global Environment Facility (GEF) is a 178 member-strong international financing body devoted to global environmental issues that support sustainable development. GEF grants flow to projects in developing countries related to biodiversity, climate change, international waters, land degradation, the ozone layer and persistent organic pollutants. Since 1991, GEF has achieved a strong track record with developing countries and countries with economies in transition, providing $7.4 billion in grants and leveraging $30 billion in co-financing for over 2,000 projects in over 165 countries. Through its Small Grants Programme (SGP), GEF has also made more than 7,000 small grants, up to $50,000 each, directly to nongovernmental organizations and community organizations. The World Bank Group is one of GEF’s implementing agencies and supports countries in preparing GEF co-financed projects and supervises their implementation. It plays the primary role in ensuring the development and management of investment projects. The Bank draws upon its investment experience in eligible countries to promote investment opportunities and to mobilize private sector, bilateral, multilateral, and other government and non-government sector resources that are consistent with GEF objectives and national sustainable development strategies. Since 1991, the World Bank Group has committed $1.52 billion in GEF resources and $2.25 billion in Bank group co-financing for GEF projects in 80 countries. In addition to GEF and Bank resources, it has mobilized additional co-financing of $5.48 billion from other donors. - | 
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