The Abu Dhabi Fund for Development (ADFD) earmarked over the past seven years about AED
424 million for three development and strategic projects in Albania to help
the country realize sustainable development.
Since 2011, the ADFD has provided financial resources
with a total value of AED423.6 million to finance three development projects in
across key economic sectors that bolster sustainable development.
In 2013, the Fund allocated an AED103 million
concessionary loan for the Tirana River Rehabilitation project which is
scheduled to be finalized in the second quarter of 2018. Revitalizing the bed of the Tirana River,
its shores and the surrounding areas will greatly enhance the environmental and
living conditions in the area.
In the same year, the ADFD channeled an AED 137 million concessionary loan into the Tirana River Northern Boulevard project which aimed at developing the infrastructure surrounding the Tirana River’s Northern Boulevard in order to attract investments, tourists and trade.
Moreover, the fund extended an AED184 million concessionary loan for the Tirana-Elbasan Road project for building a 28.2-metre-wide and 27-kilometre-long highway with a 2.2-kilometre-long two-lane tunnel. The tunnel will ensure smooth flow of traffic between the Albanian capital Tirana and the country’s third-largest city of Elbasan.
The ADFA Director General Said Al Suwaidi welcomed
a high-level delegation from the Republic
of Albania, headed by Erion
Veliaj, Mayor of the Albanian capital Tirana.
During the meeting, Al Suwaidi hailed the steady development of the ADFD’s special relations with the Albanian government.
The meeting was meant to tackle means of enhancing cooperation as well as the ADFD’s leading role in financing development projects and achieving socio-economic progress in the East European nation.