ADFD completes two funded projects in Albania worth $65m

ADFD completes two funded projects in Albania worth $65m
Mohammed Saif Al Suwaidi, director general of ADFD.
Published: 8 May 2018 - 8:25 a.m.
By: Jumana Abdel-Razzaq

The Abu Dhabi Fund for Development (ADFD), the national entity for development aid, has completed two of its funded projects in the Albanian capital Tirana, worth $65.3m (AED240m).

A delegation from the fund participated in the inauguration of the two projects, which was led by Adel Al Hosani, director of the Operations Department at ADFD, according to Arabian Business.

Mohammed Saif Al Suwaidi, director general of ADFD, said: “Since 2013, ADFD’s strategic relations with the Albanian government have gone from strength to strength, with the Fund financing three strategic projects in Albania valued at AED424m.

"With the official inauguration of two ADFD-funded projects – Tirana River Rehabilitation and Tirana Northern Boulevard, we mark an important milestone in supporting Albania in achieving its development priorities.”

He added: “These projects have directly benefited large segments of the population through creating job opportunities and stimulating various economic sectors.”

In 2013, ADFD allocated a $28m (AED103m) concessionary loan for the Tirana River Rehabilitation project to revitalise the bed of the Tirana River, its shores and the surrounding areas.

In the same year, the fund extended an $37m (AED137m) concessionary loan to finance the Tirana Northern Boulevard project. Works included a two-storey underground car park with 333 parking spaces, equipped with an electric vehicle charging station.

The project focused on developing the infrastructure surrounding Tirana’s Northern Boulevard with the aim of attracting investments, tourists and trade.

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