A recent World Bank report highlights the progress made so far in projects being built in popular tourist areas of southern Albania, while emphasizing that their completion is expected by the summer of 2026.
Among these projects, financed by a World Bank loan and which are part of the Albanian government’s program to upgrade the country’s infrastructure, include comprehensive urban improvement, restoration of castles and caves, as well as the construction of an underwater museum. The World Bank financing has four objectives: improving urban infrastructure at a cost of 70 million euros, upgrading tourist attractions at a cost of 8 million euros, developing the tourism market and tourism products at a cost of 8.6 million euros, and generally supporting the development of local economies at a cost of 4.5 million euros.
The aforementioned World Bank report emphasizes that progress so far is assessed as satisfactory, and that the projects have already contributed positively to the regions where they are being implemented, such as by creating new jobs in the tourism economy. It is also noted that in the context of financing for the completion of the projects, an additional loan from the World Bank is planned in the near future, following the initial one approved on July 31.
Moreover, according to data from the Bank of Albania, the value of new loans in September amounted to approximately 350 million euros, an increase of 20.8% compared to the same period last year. Although the new loans disbursed this year are at historically high levels, the growth rate is more moderate compared to the previous year. The main impetus for the market comes from the private sector. Credit to businesses is also showing positive dynamics, although at a slower pace compared to last year.
The information comes from the Office of Economic and Commercial Affairs in Tirana.
