"Gateway to the Alps", 50 million euro loan signed - Investments in roads, transport and water supply. Total project, 100 million euro
The European Investment Bank has announced the signing of a 50 million euro loan agreement for Albania, within the framework of the "Gateway to the Alps" project, which aims to promote the sustainable development of the north of the country and promote tourism.
The project has a total value of around 100 million euros, which implies a co-financing scheme, where the EIB loan covers half of the investment, while the rest is expected to be provided by the state budget and other financial sources.
The financing will be channeled through the Albanian Development Fund, which will act as a financial intermediary and implementing structure for concrete projects to be developed in Lezhë, Shkodër and Malësi e Madhe.
The project is conceived as a multi-sectoral public investment program in the northern area and includes several key areas.
In the transport sector, which accounts for the bulk of the EIB's financing of 36 million euros, investments are foreseen to improve regional roads, increase road safety, develop public transport, and create infrastructure for bicycles and pedestrians.
Another component is related to basic infrastructure, which includes investments in drinking water supply, wastewater treatment and waste management. The project also includes interventions in urban development and the protection of natural and cultural heritage, through the restoration of historical buildings and the protection of areas of special natural value.
According to EIB documents, the program aims to improve access to services, increase the region's attractiveness for tourism and investment, and support local economic development in an area that is still considered underdeveloped and highly dependent on agriculture.
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