The agreement envisages a 50 million euro loan from the bank, part of a wider 100 million euro investment to support infrastructure works and boost sustainable tourism.

Deputy Finance Minister Endrit Yzeiraj said the project aims to improve living standards in northern Albania communities by enhancing mobility, upgrading public infrastructure and promoting sustainable tourism development.

The initiative seeks to create an integrated development corridor linking the Albanian Alps to the Adriatic coast via Shkodër, Lake Shkodra, the Buna River, Velipoja and Shëngjin.

The project includes urban regeneration, improved regional access, sustainable transport development and new public tourism products such as cycling routes and cultural infrastructure in Shkodër.

The European Investment Bank will cover half of the project’s total cost, with the remainder financed by the state budget and other sources. Implementation is expected to take five years from the agreement’s entry into force, with the Finance Ministry and the Albanian Development Fund overseeing delivery.

The project forms part of Albania’s national strategic priorities, aimed at fostering regional development, job creation and local economic growth in the north.

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