The European Bank for Reconstruction and Development (EBRD) will provide a loan of €50m ($68m) to Albania to help improve its local and regional roads.

The money will go towards a $300m-$400m project aimed at improving access to markets and essential services throughout the year, including upgrade of priority segments of the local network.

The project will also be financed by a European Investment Bank contribution of €50m ($68m) and Western Balkan Investment Fund with €40m ($54.3m).

Parallel financing for the project has been assured by other institutions including the World Bank, OFID and the Council of Europe Development Bank, according to