ALBANIA: The European Bank for Reconstruction & Development has agreed a €98·75m sovereign loan to support the €373m rehabilitation and electrification of the 120 km railway from Vorë to Hani i Hotit on the border with Montenegro.
The line is Albania’s only rail connection with a neighbouring country.
The loan agreement was signed by EBRD and the government on the sidelines of the Western Balkans Investment Summit on February 26.
The project is being co-financed by the European Investment Bank and the European Union through the Western Balkans Investment Framework, which is providing €128·8m in grants and technical assistance support of up to €12·1m.
Minister of Infrastructure & Energy Belinda Balluku said the project is ‘part of a national strategy to enhance the quality and accessibility of rail services throughout the country, while fostering connectivity and economic relations with neighbouring countries’.
The investment would ’drive economic growth and social development in Albania, aligning with the goal of promoting green, sustainable and integrated economies in the Western Balkans’.
