EBRD’s loan will be used to finance upgrades for Albania’s regional and local road network. Credit: The European Bank for Reconstruction and Development.

The European Bank for Reconstruction and Development (EBRD) has agreed to support the rehabilitation and upgrade of roads in Albania.

As part of this initiative, EBRD will provide a $50m loan to the Republic of Albania for the creation of better, safer roads.

EBRD’s loan will be used to finance the upgrade of Albania’s regional and local road network, including a road stretch of nearly 47.1km-length located between the village of Zgosht and Ura e Cerenecit in eastern Albania.

The loan will also fund work on a 10.6km road section, as well as two small realignments on the road between the city of Vlore and Orikum along the southern coast.

Along the northern coast, a 13km road section between the town of Shengjin and the village of Baks-Rrjoll near Velipoje is also covered under the loan.

To improve the resilience of Albania’s roads, the upgrades will incorporate climate adaptation measures as the roads in the region experience frequent flooding and landslides.

In addition to the loan, the Republic of Albania will receive support from the Japanese Government, which will offer on-the-job training opportunities to young people during the construction period.

Improvements in road safety will be followed by a set of recommendations in a road safety audit report, which will be financed by EBRD.

EBRD anticipates that an improved road infrastructure will facilitate tourism development, as well as support the country’s economic integration and road safety.

Earlier this month, EBRD agreed to provide a $150m loan to finance a major road project in Tajikistan.

The funding will be used to build a 44km-long stretch of the M41 road, which connects the Central Asian nation with the Kyrgyz Republic, Kazakhstan and China.