The European Investment Bank and the Albanian Development Fund have signed on 13 November a €200,000 cooperation agreement for a regional investment programme in northern Albania.

The agreement was signed under the Economic Resilience Initiative, and is part of the approved €3 million technical assistance package in support of the region. The partnership aims to unlock the growth potential of northern Albania and the Adriatic coastline with a focus on environmental issues and tourism development.

The Albanian Development Fund is a national agency with 25 years’ experience in local infrastructure investment across Albania, with significant expertise in translating national policies into investment programmes.

Since 2000, the EU bank has lent more than €474 million to Albania, supporting transport, health, education, research and development and small and medium businesses. The new initiative is expected to provide a total of €6 billion in extra financing.