Corridor VIII, financial contract with EIB approved - Council of Ministers also approves grant agreement
At the last meeting of the Council of Ministers, the financial contract between the Republic of Albania and the European Investment Bank for the project “Railway Infrastructure of Corridor VIII, Phase 1–Albania” was approved in principle. This decision states that:
In accordance with Article 100 of the Constitution, Articles 26 and 27 of Law No. 9665, dated 18.12.2006, “On State Borrowing, State Debt and State Loan Guarantees in the Republic of Albania”, as amended, and Article 10 of Law No. 43/2016, “On International Agreements in the Republic of Albania”, as amended, upon the proposal of the Deputy Prime Minister and Minister of Infrastructure and Energy and the Minister of Finance, the Council of Ministers decided:
1. Approval, in principle, of the financial contract between the Republic of Albania and the European Investment Bank, for the project "Railway Infrastructure of Corridor VIII, Phase I-Albania", according to the text attached to this decision.
2. Approval, in principle, of the Declaration of Honor, according to the text attached to this decision.
The grant agreement between the Republic of Albania and the European Investment Bank for the project "Railway Infrastructure of Corridor VIII, Phase I - Albania" has also been approved in principle.
In accordance with Article 100 of the Constitution and Article 10 of Law No. 43/2016, “On International Agreements in the Republic of Albania”, as amended, upon the proposal of the Deputy Prime Minister and Minister of Infrastructure and Energy and the Minister of Finance, the Council of Ministers
Approval, in principle, of the grant agreement between the Republic of Albania and the European Investment Bank, for the project "Railway Infrastructure of Corridor VIII, Phase I-Albania", according to the text attached to this decision.
The 2025 budget foresees financing of around 88 million euros for Corridor VIII, the most important road junction in the country. Financing for 14 lots of Corridor VIII accounts for 26.6% of domestic funds for road transport. 8 lots of works will be financed for the expansion of Elbasan - Qafë Thanë, costing 3.4 billion lekë.
While 6 other lots are financed for the construction of segments from Durrës, Elbasan-Papër and Papër-Ura e Grykshit with 5.4 billion lek financing. The total value of these 6 lots is 15 billion lek or 150 million euros over a length of about 35 km.
The next axis of Corridor VIII is the Tirana - Elbasan road, which has already been completed, while the construction of the Fier and Vlora By-passes, which help east-west traffic, has been completed.
On the Albanian side, the exit point in Macedonia of Corridor VIII will be the Bushtricës Bridge in Përrenjas, to avoid the height created by the exit at Qafë-Thane. A few days ago, Prime Minister Edi Rama and Deputy Prime Minister Belinda Balluku inspected one of the most important construction sites of Corridor VIII, where two tunnels with a total length of 1.1 km are being built.
These tunnels will connect the cities of Elbasan and Librazhd, enabling improved infrastructure and better connectivity between these two areas.
Deputy Prime Minister Balluku described this project as one of the most important construction sites of the corridor, emphasizing the importance of the construction of these tunnels. The project is considered a strategic investment for the country's infrastructure, thus facilitating road connections.
Corridor VIII will connect the ports of Italy with the ports of Varna and Burgas, passing through Albania, North Macedonia and Bulgaria. It extends for about 154 km in Albanian territory.
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