€14 million will enhance trade and regional integration
The EBRD is lending the Albanian Port of Durres, the country’s main commercial port, €14 million to help finance a new ferry terminal and rehabilitate two quays to improve passenger and cargo services. The project is being co-financed with the European Investment Bank.
The loan will enable port authorities to develop an efficient, effective, modern port that meets international standards. It will help finance the construction of a building for passengers and vehicles, customs handling, as well as supporting works arising from the reorganisation of existing port cargo operations.
Ridvan Bode, Minister of Finance of Albania said that the Port of Durres project is without doubt one of the most important for the Albanian Government. The loan will support the modernization of the largest port of the country and is yet another important contribution coming from the EBRD who is co-financing the project with the EIB, EU and the Albanian Government.
Murat Yildiran, EBRD Head of Office in Albania said the Bank loan is important for supporting the Albanian authorities’ strategy to develop key regional transport links to promote economic development and regional integration in the Balkans and wider Europe.
The EBRD is one of the largest investors in Albania having committed more than €335 million in 36 projects, ranging from infrastructure to energy and small and medium-sized enterprises to non-banking financial institutions.
The Port of Durres, owned by the Albanian government, is a core part of the regional transport network in Southeast Europe, and an important centre for international trade and travel. The project will help enhance transport between Albania and its European neighbours, improving links especially with countries such as with Italy, Macedonia and Bulgaria and benefiting both businesses and tourists.
The Port of Durres is by far the largest commercial port in Albania, transporting on average around 80 per cent of the country’s international ship-borne traffic. The port is currently involved in four main activities -- ferry operations, cargo operations, container operations and oil storage operations.
The EBRD is one of the largest investors in Albania, having committed more than €335 million in 36 projects, ranging from infrastructure to energy and small and medium-sized enterprises to non-banking financial institutions.
