EBRD to support Albania's tourism industry, EU accession progress

To boost competitiveness of the Albanian tourism sector, the EBRD is providing a 60 million euro ($70.6 million) loan to the country to co-finance tourism-enabling infrastructure, with a particular focus on the municipalities of Berat, Korca, Fier and Shkoder, it said in a statement.

Furthermore, the EU will allocate 40 million euro in grants for the restoration, improvement and development of cultural and natural heritage sites in Albania. The EU is providing the grants through its Instrument for Pre-Accession Assistance, according to the statement.

The EBRD has also signed a Memorandum of Understanding (MoU) with Albania to support the country’s progress towards EU accession through policy engagement, technical assistance and investments, it said in a separate press release.

“We are encouraged by the steps Albania is taking towards the EU and we are pleased to support these vital efforts with our contributions. In these challenging times it is more important than ever that we all join forces not only to rise to the current challenges, but also to realise the country’s long-term goals,” EBRD acting president Jurgen Rigterink said in the press release.

($ = 0.8504 euro)