Albania on Wednesday agreed a €14 million (US$18.97 million) loan with the European Bank for Reconstruction and Development to build a new passenger terminal and improve other infrastructure to increase capacity of its main port, Durres.
The 15-year-long loan, with a three-year grace period and low interest, will be part of a total investment of €40 million (US$54 million) together with the European Investment Bank, European Union and the Albanian government, to be spent on the port, which is 33 kilometers (20 miles) west of Tirana.
Albanian Transport Minister Sokol Olldashi said the new project aimed to increase the volume of goods and passengers passing through Durres.
The EBRD said it aimed to increase its annual investment in Albania to €120 million (US$162.7 million) by the end of the year.
The 15-year-long loan, with a three-year grace period and low interest, will be part of a total investment of €40 million (US$54 million) together with the European Investment Bank, European Union and the Albanian government, to be spent on the port, which is 33 kilometers (20 miles) west of Tirana.
Albanian Transport Minister Sokol Olldashi said the new project aimed to increase the volume of goods and passengers passing through Durres.
The EBRD said it aimed to increase its annual investment in Albania to €120 million (US$162.7 million) by the end of the year.