EIB-ADF Sing € 200K Agreement on North Albania Investment Program

TIRANA, November 20

The European Investment Bank (EIB) and the Albanian Development Fund (ADF) have signed a Euro 200,000 cooperation agreement concerning technical assistance with the preparation of a regional investment program in the North of Albania. This is the first step in a wider approved technical assistance program worth up to EUR 3m to be implemented in partnership with ADF in support of the region.

The technical assistance, financed by the EIB through the Economic Resilience Initiative (ERI), concerns an area encompassing the Adriatic coastline between Shengjin and Velipoje, the shores of Lake Shkodra, the River Buna and the Koplik gateway to the Albanian Alps, and includes parts of the territories of the municipalities of Shkodra, Lezha, and Malesi e Madhe.
As part of this cooperation, the EIB will assist ADF in defining the Coastline Gate of Alps integrated tourism and urban upgrading strategy, and in evaluating the area’s natural assets and potential, as well as addressing environmental issues. This will enable the preparation of a mid and long-term capital investment plan that will complement the existing Master Plan of the Alps by improving accessibility, environmental quality, and local amenities.

This partnership illustrates the EIB’s support to the Albanian authorities for sustainable development that synthesizes existing plans and sectors and prioritizes strategic investments.
“By helping devise a public infrastructure investment program based upon the regional tourism potential and an in-depth analysis of existing infrastructure gaps the Bank will contribute to realizing the untapped growth potential of northern Albania”, said Alessandro Bragonzi, EIB representative for Albania, Kosovo, and North Macedonia.
On his part, ADF director Dritan Agolli said that this initiative aims to provide a strategic vision for sustainable development of the gate of Alps area that synthesizes existing plans, sectoral strategies, and prior or recent strategic investments.
Source: EIB