EBRD considering a loan of $ 69.4m for tourism projects in Albania

The European Bank for Reconstruction and Development (EBRD) is considering the provision of a loan up to $ 69.4m for financing infrastructure and tourism projects in Albania.  According to the statement issued by EBRD the loan will be divided into two tranches of 30 million Euros each and is part of Albania infrastructure tourism enabling program.

“The bank will also seek to provide financing or share risk through local commercial banks and advisory services to support micro and small and medium-sized enterprises (SMEs), active in the tourism value chain. Infrastructure investments that enable tourism development will be carried out in the regions of Berati, Korca, Fieri and Shkodra, whereas overall municipal and transport infrastructure investments will be made throughout the country, including the most targeted regions” EBRD noted. The program will be co-funded with a 40m-Euro to be used, among other things, for the rehabilitation of cultural and natural heritage sites and will be made available through the Instrument for Pre-Accession Assistance (IPA). According to the EBRD, the program’s objectives help increase the competitiveness of the tourism sector in Albania through a comprehensive approach including infrastructure development, rehabilitation of cultural and natural heritage sites and support to SMEs. The program will also aim at improving municipal and environmental infrastructure across the country and regional transport links to provide more reliable access to economic centers./Klara Ruci/