23/06/2010 – ALBANIA: 50 MLN EIB LOAN FOR ROAD NETWORK BELGRADE
The European Investment Bank and the Albanian government have today signed an agreement in Tirana over a 50 million euro loan aimed at asphalting and generally improving the state of the local road network. It is the biggest ever operation carried out between the EIB and Albania.
The EIB was represented by the vice-chairman in charge of Italy, Malta and the Western Balkans, Dario Scannapieco, while the Albanian government was represented by the Finance Minister, Ridvan Bode.
The project is part of a programme that will see the restructuring and the restoration of 1,500 kilometres of roads throughout the whole of Albania, with the aim of improving connections, which in turn would favour economic opportunities and the development of the country’s agriculture and tourism sector. The total cost of the project is around 140 million euros and is co-financed by the European Commission and the European Bank for Reconstruction and Development, as part of the Western Balkans Investment Fund (WBIF).
”We are very happy to contribute to this programme, and generally to intensify our activity with the authorities in Tirana,” said the deputy chairman Scannapieco during the signing of the deal earlier today. ”This is an important way, together with the other institutions involved, of helping Albania along its road to European integration”.
The EIB has had a presence in Albania since 1995, with its total financial activity so far reaching almost 350 million euros.
Source: Vecchio sito IPA