Albania has received a grant of 4 million US dollars from the World Bank in support of a forest preservation project, the Albanian Environment Ministry announced Friday.

Speaking at a ceremony, Environment Minister Lefter Koka said the World Bank grant was awarded to Albania in support of its 10-year moratorium on forest-cutting, except for firewood, which is estimated to reduce forest-cutting by 5,000 cubic meters a day.

The grant will be given to some 260 associations of forest and pasture users as well as 200 forest owners, farmers and traditional users, in the form of compensation for their financial loss in forest restoration.

World Bank Representative for Albania Tahseen Sayed spoke highly of the project, saying that it is the first time for Albania to be awarded such a big grant for forest preservation.