Albania has signed an €80 million loan agreement with the European Investment Bank (EIB) to improve water distribution system in Tirana.
The loan is part of the EIB’s Economic Resilience Initiative and was facilitated by the European Union that will act as guarantor.
The investment represents the largest agreement the EIB has signed with Albania to date.
EU Ambassador to Albania praised the agreement, saying that “Europe is here to assist Albanians for an improved quality of life, stronger public health and reduced energy costs.”
The project aims to modernize the existing water distributing network, ensuring constant supply for over 800,000 people who live in the capital and increasing water security.
It also plans to improve the quality of drinking water by removing individual roof reservoirs and increase economic resilience to climate change.