News
04 March 2020
Kuwait fund finances Albanian road project
In:
Social infrastructure
Region:
Europe
Albania has secured an additional loan of $22 million from the kuwait Fund for Arab Economic Development to finance the construction of a road section along the Vlora river.
The 23.7km section Ura e Laskos – Qeparo is part of the 94km road linking the city of Vlora and Tepelena village to the coastal area. The project, which has a total cost of ALL9.4 billion ($84 million) will be implemented by the Albanian Development Fund and is is expected to be completed by the end of 2022.
In 2016, the Albanian government signed a $40.8 million loan agreement with the Kuwait Fund for Arab Economic Development for the construction of the road in the southwestern part of the country. The Saudi Fund for Development will contribute the remainder.
