EBRD Albanian Railways project wins award for Best Rail Deal 2017

An EBRD project supporting the rehabilitation of the railway line between Tirana and Durres and the construction of a new railway link from Tirana-Durres to Tirana International Airport has been named ”Best Rail Deal 2017” by Emea Finance’s Awards 2017. PFI Awards, given out in London are a milestone in the global project finance calendar. EBRD support for the railway upgrade consists of a sovereign loan of up to 36.87 Euro million signed in 2016 to co-finance the works to rehabilitate 37.7km of railway line between Tirana and the city of Durres and to construct a new 7.4 km railway branch connecting with Tirana International Airport. In May 2018 the Bank’s loan was complemented by a grant agreement for a further 35.4 million euro of co-financing grant funded by the European Union through the Western Balkans investment Framework. The project is part of Route 2 of the Western Balkans Investment Framework. The project is part of the Route 2 of the Western Balkans Core Network connecting the cities of Podgorica in Montenegro and Vlora in Albania. EBRD cumulative investments in Albania stand at over 1 billion euro with more than 80 projects.