TIRANA, Aug 10 /ATA/ The European Bank for Reconstruction and Development (EBRD) is expected to co-finance the project for the rehabilitation of the Vorë-Hani i Hoti railway line, on the border with Montenegro, 120 kilometers long.
According to the European Bank for Reconstruction and Development, the final beneficiary of the loan in the amount of 62.9 million euros will be the state railway operator “Albanian Railways.”
“The railway rehabilitation project will be co-financed by the European Investment Bank (EIB) and the European Union (EU) through the Western Balkans Investment Framework (WBIF),” the project summary document reads.
The total cost of the project is estimated at around 267 million euros, while the financing will be signed up to in November of this year. The construction of this railway segment, considered part of the Main Network of the Western Balkans and an indicative extension of the Trans-European Transport Networks in the region, connects Albania with this system, exposing its economic development.
Greener and more sustainable transport such as rail promotes the transition from road to rail in Albania.
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