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EBRD to finance new Albanian ferry terminal
€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.
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