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Paving the way for Albania’s economy
€35 million EBRD loan for key road project
The EBRD is supporting the rehabilitation and upgrading of a 70-km section of
the road from Fier to Tepelene, part of Albania’s north-south axis, with a €35
million sovereign loan. The project is co-financed by the European Investment
Bank (EIB) with a loan of up to €50 million and supported by technical
assistance grants from the EU and Canada.
The rapid increase of vehicle numbers in recent years and the growing
integration of Albania into regional markets have made the modernisation and
expansion of the road network imperative. Rehabilitation of the east-west axis
from the Adriatic port of Durres to the Macedonian border, and completion of
the north-south axis stretching from the border with Montenegro to the border
with Greece are projects of national and international importance.
Riccardo Puliti, EBRD Director for Transport, said that upgrading Albania’s
transport infrastructure is a key priority to facilitate trade and regional
integration and will help ensure stable economic growth.
The project will also support improvements in road-sector financing and
institutional strengthening which should lead to more transparent and
efficient management of the sector. It aims to improve transport planning,
increase commercialisation (by implementing a national transport plan and
road-sector restructuring programme), and improve the funding of road
maintenance and cost recovery from road users.
The project has been prepared in close cooperation with the EU, which has
provided extensive preparation assistance through the CARDS programme, and the
EIB. Additional technical assistance is also being provided by the EU to
support institutional strengthening and supervision of works. Canada will
provide funds to monitor the project’s implementation.
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