TIRANA (Albania), August 11 (SeeNews) - The Saudi Fund for Development (SFD) said it has signed an agreement to provide a $49 million (47.4 million euro) loan to Albania for the construction of the Tirana-Qafe Plloce road.
The proceeds will be used to finance the second phase of the project for the construction of the 43-kilometre road, SFD said in a press release on Wednesday.
The SFD earlier provided a $25 million loan to Albania for the first phase of the Tirana – Elbasan – Qukes – QafePlloce Road construction project. The Saudi fund has so far provided loans of over $114.5 million to back development projects in Albania.
($ = 0.9682 euro)