CORRECTED - Albania to get loan from Saudi fund to finance road upgrades

A corrected version follows:

Albania's government approved a $30 million (25.5 million euro) loan agreement with the Saudi Fund for Development, Tirana-based media reported.

The loan will be used to finance the rehabilitation of Vlore River road in southern Albania, the Albanian Telegraphic Agency said.

The road section should be completed in 2020. The total cost of the project amounts to $70 million, as the remaining amount is provided by the Kuwait Fund.

Vlore River road construction project - from the city of Vlore to the southern coastal village of Qeparo - will provide a new road connection to Jon coastal line and will boost economic development in the southern region of Albania.

($ = 0.8525 euro)