Media ININ Economy We Trust
Media IN TIRANA, Albania, 4th July, 2019 (WAM)
A delegation from Abu Dhabi Fund for Development (ADFD) announced it has taken part in the official inauguration of the final phase of its AED 240 million ($65 million) Tirana Northern Boulevard and Tirana River Rehabilitation projects in Albania. The ADFD’s funded projects aim to attract investment opportunities to the Albanian capital Tirana and revive the tourism and commercial sectors there.
Construction work included the establishment of a 2.4-kilometre-long boulevard ranging in width from 40 to 70 metres on a total area of about 885 hectares, ADFD said.
Mohammed Saif Al Suwaidi, director general of ADFD, said: “ADFD has contributed to the Northern Boulevard and Tirana River Rehabilitation projects in Tirana through allocating $65 million in concessionary loans to support the Albanian economy and develop the infrastructure of Tirana.”
Al Suwaidi also indicated that the leading Emirati entity for international development aid has played a vital role in supporting business and tourism in Tirana, as well as in creating new job opportunities for its residents.
This comes in line with the ADFD’s objectives in helping the international community to achieve sustainable growth in developing countries, he added.
In 2013, ADFD had dedicated an AED 103 million concessionary loan for the Tirana River Rehabilitation project and allocated an AED 137 million concessionary loan to finance the Tirana Northern Boulevard project.
Works included a two-storey underground car park with 400 parking spaces, equipped with an electric vehicle charging station. The project focused on developing the infrastructure surrounding Tirana’s Northern Boulevard with the aim of attracting investments, tourists and trade.
The national fund has provided loans and grants of around AED 424 million to finance three projects in Albania’s major economic sectors since 2017.
