Abu Dhabi fund sees launch of $65m Albanian projects

Abu Dhabi Fund for Development takes part in inauguration of two of its funded projects in the Albanian capital Tirana
Mohammed Saif Al Suwaidi, director general of ADFD.
By Sam Bridge
Tue 08 May 2018 02:15 PM

A delegation from Abu Dhabi Fund for Development (ADFD), the national entity for development aid, has participated in the inauguration of two of its funded projects in the Albanian capital Tirana, worth AED240 million ($65.3 million).

Adel Al Hosani, director of the Operations Department at ADFD, led the delegation representing the fund.

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 AED424 million.

"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 an AED103 million 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 AED137 million 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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Last Updated: Tue 08 May 2018 02:17 PM GST

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