EBRD lending Albania 99 mln euro for railway upgrade

The 120-kilometre Vore-Hani i Hotit line is Albania’s only railway connecting to its neighbouring countries. It is part of EU’s connectivity project Trans-European Transport Network (TEN-T), which comprises railways, inland waterways, short sea shipping routes and roads linking urban nodes, maritime and inland ports, airports and terminals.

Total investment for the project is estimated at 373 million euro. EBRD is co-financing it with the European Investment Bank (EIB) and the European Union, which is providing 128.8 million euro in grants as well as up to 12.1 million euro for technical assistance, EBRD said in a press release on Monday.

In Albania, EBRD is also co-financing a 34-kilometre railway section linking the capital Tirana to the port city of Durres, through a 36.9 million-euro loan. The EU is providing a 35.5 million euro grant for the project.

($=0.921 euro)