| Project Detail |
A multisector framework loan to finance investment schemes prioritised in the Regional Integrated Tourism and Urban Upgrading strategy to promote sustainable tourism and economic growth in the north of Albania
Objectives
The project concerns an up to €50m framework loan to the Republic of Albania, acting as borrower and represented by the Ministry of Finance to support the sustainable development of the Coastline Gate of Alps area situated in northern Albania. The project is expected to support sustainable tourism and regional development by investing in basic infrastructure (wastewater treatment and water supply, pedestrian and cycling paths); natural and cultural heritage sites (protection of natural areas and historical buildings); and sustainable transport (upgrades to improve urban mobility, regional road accessibility and road safety, and public transport facilities). The promoter will be the Albanian Development Fund ("ADF"), a State led development organization, who set up an operational multi-annual programme of up to LEK 100 trillion (€872m), covering the period 2022-2028. Technical assistance is provided to ADF from EIBs Economic Resilience Initiative to identify priority investments, quantify related costs, verify alignment with EIB eligibility rules and provide initial support on Environmental Social Impact Assessment (ESIA).
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 100 million |
