Kuwaiti loan to rehabilitate traffic intersections

TIRANA, March 31 – Albania has signed a 14.3 million euro loan with the Kuwaiti Fund for the Arab Economic Development to fund the construction of an intersection in Vora and other road work in Shkozet.
The agreement was signed by the Albanian Finance Minister, Ridvan Bode, and the deputy head of the Kuwaiti Fund, Hesham Al Waqayan.
The project includes building some five kilometers of two-lane road and also an intersection in Shkozet.
The Vora Interchange seeks to improve traffic with parallel roads for three kilometers.
The loan period is for 20 years with no-payment for the principal in four years and a 2 percent annual interest rate.
The Kuwaiti Fund has provided financing for five projects dealing with Albanian infrastructure and agriculture with a total of 32.2 million Euros.(Tirana Times Staff)