EIB and Albanian Development Fund sign cooperation deal for investment program

This is the first step in a wider approved technical assistance programme worth up to EUR 3m to be implemented in partnership with ADF in support of the region.

The European Investment Bank (EIB) and the Albanian Development Fund (ADF) have signed a EUR 200,000 cooperation agreement concerning technical assistance with the preparation of a regional investment programme in the North of Albania. This is the first step in a wider approved technical assistance programme worth up to EUR 3m to be implemented in partnership with ADF in support of the region. ADF is a national agency with 25 years’ experience in local infrastructure investment throughout Albania. It is an important partner of the EIB and has significant expertise in translating national policies into investment programs.

The technical assistance, financed by the EIB through the Economic Resilience Initiative (ERI), concerns an area encompassing the Adriatic coastline between Shengjin and Velipoje, the shores of Lake Shkodra, the River Buna and the Koplik gateway to the Albanian Alps, and includes parts of the territories of the municipalities of Shkodra, Lezha, and Malësi e Madhe.

As part of this cooperation, the EIB will assist ADF in defining the Coastline Gate of Alps integrated tourism and urban upgrading strategy, and in evaluating the area’s natural assets and potential, as well as addressing environmental issues. This will enable the preparation of a mid and long-term capital investment plan that will complement the existing Master Plan of the Alps by improving accessibility, environmental quality, and local amenities.

This partnership illustrates the EIB’s support to the Albanian authorities for sustainable development that synthesizes existing plans and sectors and prioritizes strategic investments.

“By helping devise a public infrastructure investment programme based upon the regional tourism potential and an in-depth analysis of existing infrastructure gaps the Bank will contribute to realizing the untapped growth potential of northern Albania”, said Alessandro Bragonzi, EIB representative for Albania, Kosovo*, and North Macedonia.

“ADF in its role as regional development agency through this initiative aims to provide a strategic vision for sustainable development of the gate of Alps area that synthesizes existing plans, sectoral strategies, and prior or recent strategic investments. Albanian Development Fund sees in EIB an important partner from whom has received continuous support, for many years, in achieving its mission, in support of Albanian Government goals and objectives. Through this initiative, we intend to build a comprehensive programme of investments that will respond to territorial needs and potentials, through an integrated approach of interventions, improving the attractiveness of this area, boost economic generation potential, invest in people and services as well as improve public services”, said Dritan Agolli ADF Executive Director.