Albanian Government and European Bank for Reconstruction and Development (EBRD) signed on Tuesday in Tirana an agreement for the construction of Vlora Bypass, totalling €53M financed by a European Union grant and two loans from EBRD and the European Investment Bank (EIB).
The European Union will finance a grant of 17 million Euros while the two loans from EBRD and EIB amount to 18 million euros each.
Apart from this, the European Union financed another grant of 3.5 million Euros for the preparation of the project and the supervision of the works, while the contribution of the Albanian government amounts to 8.6 million euros, for the purchase of the land and payment of all taxes related to the construction of the Vlora Bypass.
The construction of this important project will serve the most important road segment the south of Albania with the objective to increase speed of circulation, free traffic congestions, increase comfort and security on the road and improvement of the environment in the city of Vlora.
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