ADFD reviews progress on projects worth AED423m in Albania

A delegation of technical experts from the Abu Dhabi Fund for Development, ADFD, recently visited Albania, to review the status of three of its financed projects, the Tirana River Rehabilitation project, Tirana River Northern Boulevard project, and Tirana-Elbasan Road project.

During the visit, the delegation toured the project sites and met with Albanian government officials including Gelardina Prodani, Secretary-General of the Ministry of Finance, Arbjan Mazniku, Deputy Mayor of Tirana, and representatives of the Albanian Road Authority.

The parties discussed ADFD’s funding parameters and guidelines. The delegation received an update on the progress of the development projects that have a combined value of AED423.6 million.

The Fund provided an AED103 million concessionary loan for the Tirana River Rehabilitation project in 2013. After inspecting the site, the delegation concluded that 70 percent of the river rehabilitation works have been completed and the project is slated for handover by Q2, 2018.

As for the Tirana River Northern Boulevard project, the Fund provided an AED137 million concessionary loan. The delegation confirmed that 50 percent 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 AED183 million concessionary loan. The works include the construction of a 28.2 metre wide, 27 km long highway with a 2.2 km 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.

Speaking on the occasion, Mohammed Saif Al Suwaidi said, "ADFD is keen on periodically dispatching its technical team to review and assess funded projects in beneficiary countries. These delegation visits are crucial in evaluating progress of projects and discussing with officials any hurdles facing completion and finding appropriate solutions."

He added, "ADFD-funded projects in Albania target strategic sectors that help bring positive benefits and returns to the South-eastern European country. By providing vital opportunities for employment, these projects have directly helped large segments of the population and will continue to underpin long-term growth."

Gelardina Prodani, Secretary-General of the Ministry of Finance praised the UAE and ADFD for their active roles in supporting the Albanian government.

She lauded the Fund’s monetary contributions in developing infrastructure that will help revitalise commerce and the tourism sector. Prodani also highlighted the significance of these visits in addressing challenges and finding new collaborative opportunities.