December 20 (SeeNews) - The Saudi Fund for Development (SFD) said it provided a development soft loan of $30 million (28.3 million euro) to Albania for the rehabilitation and construction of facilities adjacent to the Coastal Road (Vlora – Orikum) project.
The 11 km project includes rehabilitation of public buildings and providing critical services to seaside communities such as water, power, and sanitation, SFD said in a press release last week.
Saud bin Ayed Al-Shammari, director general of Asia operations at the SFD, led a delegation that launched the project in Albania.
Al-Shammari remarked that this initiative represents the Kingdom of Saudi Arabia's commitment to Albania through SFD and that it signals significant growth in the country.
In the past years, SFD has provided four loans for three development projects in Albania valued at more than $114.5 million.
($ = 0.941 euro)