EBRD gives 14 million Euros for rehabilitation of Durres port

TIRANA, May 16 – Albania signed a 14 million Euro loan agreement with the European Bank for Reconstruction and Development on Wednesday to rehabilitate its main port of Durres.
The loan is for 15 years with a three-year grace period and a low interest starting at 0.5 percent a year.
The funding is part of a total investment of 40 million Euros together with the European Investment Bank (18 million Euros), European Union with a 2.2 million Euro grant and the Albanian government with 5.8 million Euros to build a new passengers’ terminal and other infrastructure at the Durres port.
Albanian Transport Minister Sokol Olldashi said the new project aimed at increasing the volume of goods and passengers at the port of Durres.
The EBRD top official, Murat Yildiran, said they aimed at increasing the annual investment to Albania from the current 90 million Euros to 120 million Euros by the end of the year. The project in Durres is planned to end in 2010.