EIB Global is providing Albania with €50 million in financing to upgrade infrastructure and services in the northern municipalities of Shkodër, Lezhë and Malësi e Madhe.
The funding is intended for works including regional roads, urban squares and boulevards, public transport, water infrastructure and improvements to natural and historical sites, the European Investment Bank reported on Thursday.
It also supports a project described as the first direct tourism-based link between the Albanian Alps and the Adriatic coast.
“We are helping Albania bringing infrastructure closer to EU standards, increasing attractiveness and expanding economic opportunities in these regions, which are supporting business, job creation and new investments,” said EIB representative to Albania Alessandro de Concini.
Funding package and wider support
A total investment value of €100 million was set out for the broader project, Albanian Minister of Finance Petrit Malaj said.
The plans include investment in water supply, sewage, urban transport and pollution management, as well as work to connect tourist areas including the coastline, Lake Shkodër and the Alps, Albanian Minister of Infrastructure and Energy Enea Karakaçi said.
EIB Global is also providing a €1.75 million technical assistance grant to help prepare an investment programme for the areas covered, funded through the bank’s Economic Resilience Initiative and implemented by the Albanian Development Fund.
EIB Global has provided close to €900 million in financing to Albania over the past three decades, including for urban infrastructure projects.
