saudi fund – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Thu, 17 Jun 2021 12:45:19 +0000 en-US hourly 1 Parliamentary Committee approves agreement with Saudi Fund for Development for rehabilitation of facilities along Vlora-Orikum road https://en.ata.gov.al/2021/06/17/parliamentary-committee-approves-agreement-with-saudi-fund-for-development-for-rehabilitation-of-facilities-along-vlora-orikum-road/ https://en.ata.gov.al/2021/06/17/parliamentary-committee-approves-agreement-with-saudi-fund-for-development-for-rehabilitation-of-facilities-along-vlora-orikum-road/#respond Thu, 17 Jun 2021 12:45:19 +0000 http://en.ata.gov.al/?p=152125 TIRANA, June 17 /ATA/ – The Parliamentary Foreign Affairs Committee adopted Thursday the draft law on “Ratification of the Agreement between the Council of Ministers of Albania and the Saudi Fund for Development on rehabilitation and construction of facilities near the coastal road between Vlora and Orikum.

Representatives from the Ministry of Finance and Economy, and the Albanian Development Fund attended the Committee’s session.

The project will be funded through a loan of $30 million with a maturity of 25 years, no principal payment during first five years and a 2% annual interest rate.

The project is an extension of the first phase of the EU-funded Vlora Waterfront (Lungomare) project. Albanian Development Fund is the project implementation agency.

The project is scheduled to complete by December 2023.

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