The Albanian Parliament approved on Thursday two agreements with the European Bank for Reconstruction and Development (EBRD) for the development of infrastructure, tourism as well as for support for overcoming Covid-19 pandemic, as well as an agreement with the United Arab Emirates for economic cooperation.

“We have negotiated an agreement with the EBRD for the development of tourism in the country. The program will be implemented by the Albanian Development Fund and will last until 2025,” Economy Minister Anila Denaj said during her speech in parliament.

Minister Denaj added that the second agreement with the EBRD includes also a Euro 15 million fund for the supporting Albania in overcoming the Covid-19 pandemic. “The agreement aims to strengthen the main functions of public health, strengthening the health system to increase capacity to cope with Covid-19,” Denaj noted.

To boost competitiveness of the Albanian tourism sector, the EBRD is providing a Euro 60 million euro loan to the country to co-finance tourism-enabling infrastructure, with a particular focus on the municipalities of Berat, Korca, Fier and Shkoder, it said in a statement.

Furthermore, the agreement includes also Euro 40 million in grants for the restoration, improvement and development of cultural and natural heritage sites in Albania.

"The investments that will be covered through the loan will mainly aim to improve the access and greater sustainability of cultural heritage, natural resources, as well as improve infrastructure," Denaj said.

"The citizens of Lura will soon have an upgraded road. The citizens of Fier will see investments in the coastal area of ​​Fier such as Darëzeza, on the banks of the river Seman and Vjosa, rehabilitation of Apollonia Archeological Park and connection with Bylis Archeological Park. In Shkodra we will enable an integrated intervention in the Lake area, in Shiroka and Zogaj, not forgetting the investments in Rozafa castle and the museum of Fine Arts. In Berat there will be a focus on improving the mountain tourist offer in Tomorri National Park, as well as integrated investments in the Berat castle. In Korça we will focus on improving the cultural offerings around the city as well as the mountains, consolidating an integrated tourist offer,” Denaj highlighted.

The EBRD has also signed a Memorandum of Understanding (MoU) with Albania to support the country’s progress towards EU accession through policy engagement, technical assistance and investments.

While the third agreement between Albania and the UAE aims to increase economic cooperation between the two countries.

“The UAE has given a lot of support. This agreement aims to consolidate this cooperation in many areas. Recently, the cooperation has been intensified as in the development of the port of Durrës as well as investments in the field of tourism,” Denaj underlined.

Under the agreement with the UAE, The Abu Dhabi Fund for Development (ADFD) will provide a Dollar 70 million grant to finance the construction of more than 2,000 housing units in Albania.