TIRANA, June 8 / ATA/ – An EBRD project supporting the rehabilitation of the railway line between Tirana and Durres and the construction of a new railway link from the Tirana-Durres line to Tirana International Airport has been named “Best Rail Deal 2017” by EMEA Finance’s Project Finance Awards 2017. PFI Awards, given out in London on 6 June 2018, are a milestone in the global project finance calendar.
EBRD support for the railway upgrade consists of a sovereign loan of up to €36.87 million, signed in 2016, to co-finance the works to rehabilitate 34.7 km of railway line between Tirana and the city of Durres and to construct a new 7.4 km railway branch connecting with Tirana International Airport. In May 2018, the Bank’s loan was complemented by a grant agreement for a further €35.4 million of co-financing grant, funded by the European Union through the Western Balkans Investment Framework.
The project is part of Route 2 of the Western Balkans Core Network connecting the cities of Podgorica in Montenegro and Vlore in Albania.
EBRD cumulative investments in Albania stand at over €1 billion with more than 80 projects.
- Tirana-Durres rail line upgrade and construction of new line to Tirana International Airport project wins EMEA Finance Project Finance Award for “Best Rail Deal 2017”
- EBRD’s €36.87m sovereign loan backed by WBIF €35.4m investment grant
- Project supports modal shift from road to lower carbon rail transport //a.i/
