The European Bank for Reconstruction and Development (EBRD) is set to provide up to €36.9 million ($44.14 million) and the Western Balkans Investment Framework (WBIF) up to €35.5 million ($42.46 million) in grants to develop two railway links in Albania.

The finance will be invested in more than 34 km of the current railway line between Tirana and Durrës port on the Adriatic coast and to construct a new 7.4 km-long rail link, which will connect both cities to Rinas International Airport.

A signing ceremony was attended by Damian Gjiknuri, Minister of Infrastructure and Energy and Erjon Luci, Deputy Minister of Finance and Economy on behalf of the Albanian Government, Christian Danielsson, Director General for Enlargement, DG NEAR, European Commission and Matteo Colangeli, EBRD head of Tirana office.

The investment will reduce transport times for people and businesses, and encourage the use of low carbon railways over road transport.

Source: portseurope