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ADFD reviews AED424m financed projects in Albania

ADFD reviews AED424m financed projects in Albania
Tirana-Elbasan Highway

Mubasher: The Abu Dhabi Fund for Development (ADFD) recently reviewed the status of three of its financed projects in Albania, namely the Tirana River Rehabilitation project, Tirana River Northern Boulevard project, and Tirana-Elbasan Road project.

A delegation recently visited Albania, toured the project sites, which have a combined value of AED 423.6 million, and met with Albanian government officials to discuss ADFD’s funding parameters and guidelines, as reported by Emirates News Agency (WAM).

ADFD Fund provided AED 103 million concessionary loan for the Tirana River Rehabilitation project in 2013. After inspecting the site, the delegation concluded that 70% of the river rehabilitation works have been completed and the project is slated for handover by the second quarter of 2018.

As for the Tirana River Northern Boulevard project, the Fund provided an AED 137 million loan. The delegation confirmed that 50% of the work has been completed, including a two-storey underground car park with 333 parking spaces, equipped with an electric vehicle charging station.

They also visited the site of ADFD’s Tirana-Elbasan Road project, funded with an AED 183 million loan. The works include the construction of a 28.2 metre wide, 27 kilometre long highway with a 2.2 kilometre long two-lane tunnel that will ensure smooth flow of traffic between the Albanian capital Tirana and the country’s third-largest city of Elbasan.

The delegation confirmed that several phases of the work are finished, and the project is scheduled for completion by end-2017.