The agreement was signed on Tuesday by Roberto Crod, EIB Vice President, and Giuseppe Janpiero, Director of Intesa Sanpaolo Bank Albania.

The ceremony was attended by Albanian Prime Minister Edi Rama, Economy and Innovation Minister Delina Ibrahimaj, and EIB President Nadia Calviño.

The financing aims to provide favourable credit lines to Albanian SMEs, strengthening their capacity to invest in innovation, digital transformation, new technologies and environmentally sustainable projects.

Officials from the EIB and the Albanian government described the agreement as an important step toward modernising the country’s economy, boosting competitiveness, and aligning with European Union standards.

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In a statement on the social media platform X, Foreign Minister Hasani described the deal as a historic step, which is expected to accelerate the country’s progress toward EU membership and bolster its regional economic role.

“The host country agreement signed today between Albania and the European Investment Bank marks a significant milestone for Albania’s rapid economic growth and progress toward EU integration,” Hasani said.

Hasani  said that Tirana is on track to becoming a key regional economic hub.

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Minister of State for Relations with the Parliament Elisa Spiropali said that through this strategic project there will be carried out rehabilitation of the railway line Vorë – Hani i Hotit, to enable the provision of a modern transport service, the achievement of sustainable green mobility according to EU standards.

“The project foresees rehabilitation of the railway line with a length of 120 km and the rehabilitation of 12 railway stations for passengers and goods, while the average travel time from Vora to Hani i Hotit is expected to be 2 hours”, said Spiropali in a statement, after the meeting of the government.

A part of the total investment cost will be covered by the state budget, the rest by the EBRD, the EU through the Western Balkans Investment Framework and the European Investment Bank.

“The project aims to connect Albania with Montenegro via the joint railway station of Tuzi towards Podgorica, and further to international rail connections between the capitals, including Belgrade, Zagreb, Ljubljana and Budapest & will give an impetus to the development of the country’s economy”, said Spiropali.

According to her, this strategic project is a great opportunity for Shkodra.

“The capital of the northern Albania and beyond will see a boost in development through increased access from the rehabilitation of this line,” she said. /p.s./

Mete said that today they discussed during the meeting on the cooperation so far with the European Investment Bank and the support provided through the financing of important projects.

“We expressed our commitment to the further promotion of cooperation, also within the framework of important infrastructural projects, with a direct contribution to the economic development of the country”, said Mete. /r.e/p.s./

At the today’s regular cabinet meeting, chaired by the Prime Minister Edi Rama, pursuant to the law “On international agreements in the Republic of Albania”, under the proposal by the Minister of Infrastructure and Energy, the Council of Ministers decided to approve amended agreement No. 2 on the financial contract, between the Republic of Albania and the European Investment Bank, on construction of the Fier bypass road project, ratified by law no. 80/2012, according to the text attached to this decision..

The Fier bypass road opened to traffic in June 2020 and the road meets safety requirements for all drivers. It is a category B, extra urban bypass, with a speed limit of 120 kilometres per hour.

The Fier bypass road provides a quick link to the country’s southern coastal area and helps the development of tourism.

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