TIRANA (Albania), October 19 (SeeNews) – The Tirana-Elbasan highway will be completed by the end of 2017, the Abu Dhabi Fund for Development (ADFD) said after an inspection of its three key funded projects in Albania.
The ADFD delegation toured the sites, discussed funding parameters and got an update on the progress of the projects for which the fund had provided a combined AED 423.6 million ($115 million/105 million euro) since 2011, ADFD said in a press release on Monday.
The Tirana-Elbasan highway, with a total investment of around $400 million (339 million euro), was partially funded by ADFD through a $49.8 million concessionary loan. The 27 kilometre motorway will ensure smooth flow of traffic between the capital Tirana and the city of Elbasan.
ADFD inspected also the Tirana River Rehabilitation site, for which it had granted $24.5 million in 2013, noting that 70% of the works had been completed and the project will be handed over by the second quarter of 2018.
The third project, Tirana River Northern Boulevard, for which ADFD had provided $40.8 million, was 50% completed, the press release added.
(1 euro=10.2312 UAE dirhams)