World Bank finances tourism development project in Albania worth $71 million

Published on : Thursday, November 17, 2016

world-bankAlbania has received $71 million (66.4 million euro) loan from World Bank for an integrated urban and tourism development project.

 

The project includes two UNESCO cultural sites, Gjirokastra and Berat, as well as Saranda, a tourism gateway for the region, and Permet that links the South Albania tourism circuit with the heart of the Balkans.

 

Southern Albania, well-known as a tourism destination, will be the main beneficiary with improved urban infrastructure and enhanced tourism assets.

 

“The project investments will make the four municipalities more attractive for visitors and private investors, and increase opportunities for people to generate income,” Paula Restrepo and Shaun Mann, World Bank Project Leaders, said in the statement.

 

“The whole country will benefit from increased tourism spending, job creation, and enhanced institutional capacity of local government and other agencies.”

 

Heritage and cultural sites’ restoration, and tourism market and product development will also be a part of the project.

 

The World Bank stated that tourism at present supports 50,000 jobs in Albania which is expected to grow to 200,000 by 2025 and also accounts for one fifth of economic activity.

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