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World Bank lends Albania 65.9 mln euros for road maintenance, safety

Xinhua, April 11, 2015 Adjust font size:

The Albanian government and the World Bank (WB) on Friday signed a 65.9 million euros (69.86 million U.S. dollars) financial agreement in support of a road maintenance and safety project in Albania.

Albanian Finance Minister Shkelqim Cani and country manager of the WB Office in Tirana, Tahseen Sayed, signed the loan agreement here.

Cani said the agreement was favorable with regard to financial terms, expressing appreciation for WB support for infrastructure development projects in Albania.

Albanian Minister of Transport and Infrastructure Edmond Haxhinasto said: "The agreement will support a very important project aimed at maintaining and providing efficient management of the country's main roads. Around 1400 km of roads system will be maintained up to a new standard."

The WB's Sayed underlined it is crucial to work towards reducing the number of deaths due to road accidents.

Statistics show that death rate in car accidents in Albania is twice higher than in countries in the region, according to Albanian Telegraphic Agency.

The project will be implemented by Albanian Ministry of Transport and Infrastructure through the Albanian Road Authority and is scheduled to be completed by 2021. Endit