News

EBRD Helps Albania Finance Vlora Bypass

February 3, 2015
Albania on Tuesday signed an agreement with the European Bank of Reconstruction and Development, EBRD, for the financing of the Vlora bypass road in southern Albania.
Albania minister of finance Shkelqim Cani | Photo by : Matlon Dibra/LSA

The €17 million grant, financed by the European Commission, completes the financing of the €53 million road project, which will help ease congestion in Vlora and ease access for tourists visiting the southern “Ionian Riviera”.

The 29km-long road will connect the Fier-Vlora highway with the national highway close to the town of Orikum.

“With this sum, the whole cost of €53 million for the 29-kilometer road is completed,” Finance Minister Shkelqim Cani said.

The rest of the financing for the highway will come from the EBRD and the European Investment Bank.

Present at the conference, transport minister Edmond Haxhinasto also praised the project and announced that construction would begin in March and last for 30 months.

“The benefits of this project are great for tourism, infrastructure and transportation,” Haxhinasto said.

The European Commission grant comes through its Instrument of Pre-Accession, IPA, funds. Holger Muent, head of EBRD for the Western Balkans, said the project would play an important role in improving Albania’s road infrastructure.

“This agreement completes the financing package of the Vlora bypass,” Muent said. “It will not only improve the standards of Vlora and its surroundings but also contribute to connecting different regions of Albania with an efficient and modern transport infrastructure.”