Germany will finance the initial phase of the Green Infrastructure in Tirana project with a €50mn loan, according to a statement from the German embassy in Tirana.
The project aims to introduce an environmentally friendly public and urban transport service in a city where public urban transport is a major contributor to air pollution.
The funding will be extended through the German Development Bank (KfW), Deutsche Welle reported.
A fast bus system is planned in Tirana with the aim of tackling problems in three main corridors in the Albanian capital: the east-west line from the cinema studio to Kombinat, Unaza (the third Tirana ring road) and Tirana e Re in the central and western part of the city.
Related Articles
European Union increases humanitarian aid to Syria to €202mn
The European Union announced on May 27 an increase in humanitarian aid to Syria to more than €202mn for this year, SANA reported. The additional funding will ... more
MBH Bank Tier 2 bond sale oversubscribed 3.5 times
Hungary’s MBH Bank has completed a successful €200mn Tier 2 bond issuance amid strong investor appetite. The ten-year notes, callable after five years, are priced with a 6.875% coupon following ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
15 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago