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US foundation pledges $140 million for Albania

The Associated Press    Translate This Article
7 October 2010

TIRANA, Albania (AP) - A U.S.-backed investment corporation says it has raised $140 million to fund projects in tourism and education.

The Albanian-American Enterprise Fund says it will use the money for nonprofit ventures in former Communist Albania including entrepreneurship and eco-tourism.

The AAEF was started in 1995, with a $30 million grant from the U.S. government.

The Fund's chairman Michael Granoff announced the new investment projects Thursday.

Copyright © 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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