TIRANA (Albania), February 10 (SeeNews) – The European Bank for Reconstruction and Development said on Monday it is considering a loan of up to $50 million (45.7 million euro) to Albania, to be used to finance rehabilitation and upgrade works on local and regional roads.
The loan aims to facilitate tourism development, support closer economic regional integration and enhance road safety in the EU candidate country, the EBRD said in a press statement emailed to SeeNews.
“The investment will be accompanied by measures, supported by the government of Japan, to offer effective on-the-job training opportunities to young people during construction,” the bank said, adding that improvements in road safety will follow the recommendations in a road safety audit report, financed by the EBRD’s own resources.
The proceeds of the loan will be used to finance works on a road section of approximately 10.6 km in length, including two small realignments, between the port city of Vlora and Orikum village along the southern coast; a 13 km road section between the town of Shengjin and the village of Baks-Rrjoll near Velipoja, along the northern coast, as well as a 47.1 km road section between the village of Zgosht and Ura e Cerenecit in eastern Albania.
($ = 0.91332 euro)