The European Bank for Reconstruction and Development (EBRD) is in the exploratory phase of potentially providing a sovereign loan of up to EUR 30 million to the Republic of Albania, benefiting Hekurudha Shqiptare (Albanian Railways), the state-owned railway operator.
The funding will support the rehabilitation and electrification of a 34 km railway line between Durres and Rrogozhine. This line forms part of rail Corridor VIII, which links the Port of Durres in Albania with North Macedonia and Bulgaria's Black Sea ports. Corridor VIII is a crucial component of the Western Balkans Core Network and serves as an indicative extension of the Trans European Transport Networks (TEN-T) in the region. The project is expected to receive co-financing from the European Investment Bank (EIB) and the European Union (EU) through the Western Balkans Investment Framework (WBIF).
The project aims to significantly improve the quality of rail infrastructure within Albania and enhance connectivity with neighbouring countries, addressing the current lack of adequate integration. It will support the development of rail transportation infrastructure in line with European interoperability standards. This project represents the first segment of Corridor VIII to undergo rehabilitation in Albania, paving the way for further upgrades to connect Albania with North Macedonia and Bulgaria.
Additionally, the project will encourage a shift from road to rail transport, reducing reliance on higher-emission modes of transportation. This modal shift is expected to lead to significant CO2 savings, thereby lowering overall greenhouse gas (GHG) emissions and offering a cleaner alternative for the Albanian community and businesses.
For further information go here: https://www.ebrd.com/work-with...
