Tirana, 20 June 2014
Albania: EUR 18 million for Vlora motorway bypass
On the occasion of his official visit to Tirana, the Vice President of the European Investment Bank (EIB), Dario Scannapieco, has signed today a EUR 18 million loan for the construction of the motorway bypass for the city of Vlora in Albania. The Albanian government was represented by Minister of Finance, Shkëlqim Cani, at the presence of Prime Minister Edi Rama.
The project consists of the realization of a 29 kilometers motorway bypassing the city on the southern coast of the country and reflects the Government’s priority to develop a sustainable transport system in the area. The new infrastructure will also have the capacity to support tourism, stimulate private sector, facilitate trade, promote regional and national growth as well as contribute to economic and social cohesion.
The bypass is expected to save time to commuters, reduce accidents and local pollution costs in the surroundings of the city of Vlora while providing an alternative route for traffic towards Tirana.
Minister of Finance Cani added “The signing of the financing Vlora Bypass is another tangible sign of credibility of the Albanian Government on public projects in a large effort to modernize the national infrastructure and regional integration. Cooperation with the EIB is already a consolidated and undisputed partnership on our path towards European integration”.
The EIB loan represents 35% of the total cost of the project; the balance will be provided by the European Commission under the Instrument for Pre-Accession Countries (IPA), the EBRD as well as the Government of Albania.
The EIB is the Bank of the European Union. Established in 1958 under the Treaty of Rome, it operates in the 28 EU Member States and is active in more than 130 other Countries. Outside the EU, the Bank supports projects that contribute to economic development in Countries that have signed association or cooperation Agreements with the EU.
Marco Santarelli, Press Officer – Italy, Malta and Western Balkans;
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