TIRANA, July 2 / ATA /- The European Bank for Reconstruction and Development (EBRD) said it is considering providing a sovereign loan of up to 60 million euro ($69.4 million) Albania to finance projects in infrastructure and tourism, the business magazine “SeeNews” reports.
The loan will be divided into two tranches of 30 million euro each, and is part of Albania infrastructure and tourism-enabling programme, the EBRD said a statement on Friday.
“The bank will also seek to provide financing or risk sharing through local commercial banks, as well as advisory services, to support micro and SMEs active in the tourism value chain,” the statement added.
The tourism-enabling infrastructure investments will be carried out in the regions of Berat, Korca, Fier and Shkodra, whereas general municipal and transport infrastructure investments will be made in the entire country including in the targeted regions, the bank noted.
The programme will be co-financed with an EU grant of 40 million euro that will be used, among other purposes, for the rehabilitation of cultural and natural heritage sites and will be made available through the Instruments for Pre-Accession Assistance (IPA).
According to EBRD, the programme’s objectives are to enhance the competitiveness of Albania’s tourism sector through a comprehensive approach including infrastructure development, cultural and natural heritage sites rehabilitation and support to SMEs.
The programme will also aim at improving municipal and environmental infrastructure across the country and regional transport links to provide more reliable access to economic centres. //a.i/
