The United Arab Emirates granted Albania $70 million to fund the construction of 2,000 apartments in Durres, the city hit the worst by the 26 November 2019 earthquake.
The Abu Dhabi Fund for Development (ADFD) and the Government of Albania signed an agreement in Dubai on Sunday, local media reported.
The visit resulted in Sunday’s agreement signed by Minister for Reconstruction Arben Ahmetaj and ADFD Director-General Mohammed Saif Al-Suwaidi.
“The redevelopment of Durrës County has been impacted by the global pandemic and this project will help accelerate our continued economic recovery,” Ahmetaj said.
“This development project truly represents the core values of ADFD and the UAE. It helps provide people with safe, affordable housing in line with UN Sustainable Development Goals while contributing to the positive economic development of a long-term strategic global partner nation,” Al-Suwaidi said after the signing of the agreement.
During his visit last week, Rama announced that the UAE will also invest in transforming the Durres cargo port into a tourist port.
International donors pledged €1.15 billion in donations, grants and loans to help the Albanian government with post-earthquake reconstruction projects.
One year after the devastating earthquake, the government is engaged in implementing projects to construct housing units for victims.