BAKU, Azerbaijan, February 27. The European Bank for Reconstruction and Development (EBRD) is providing a sovereign loan of 98.75 million euros to Albania for the rehabilitation and electrification of the Vore-Hani i Hotit railway line, Trend reports.
The beneficiary of the project is the state-owned railroad company Hekurudha Shqiptare
The EBRD is leading the 373 million euro project, co-financed by the European Investment Bank (EIB) and the European Union (EU) under the Western Balkans Investment Facility (WBIF), which provides 128.8 million euros in grants and technical assistance of up to 12.1 million euros.
EBRD President Odile Renaud-Basso and Albania's Deputy Prime Minister and Minister of Infrastructure and Energy Belinda Balluku signed the loan agreement on the sidelines of the Western Balkans Investment Summit 2024.
The railway line, more than 120 km long, connects Vore in central Albania to Hani i Hotit on the border with Montenegro, promoting regional connectivity in the Western Balkans and integration with EU markets. As part of the expansion of the Trans-European Transport Network (TEN-T) in the region, this line is Albania's only rail link to neighboring countries.
This project marks the Bank’s second railway investment in Albania following a 36.9 million euros loan for the Tirana-Durres section, which is currently under construction. The investment is co-financed with a 35.5 million euros EU investment grant through the WBIF and the government of Albania.
To date, the Bank has invested around 2 billion euros in Albania through 149 projects.