European Bank for
Reconstruction and Development will provide funding and support for Tirana
Municipality for the improvement of infrastructure and the sustainable
development of the city.

The new collaboration
was announced on Thursday by the Tirana Municipality press office after the
representatives of the two institutions signed a Memorandum of Understanding,
respectively by the Mayor of Tirana Erion Veliaj and by the First Vice
President of the EBRD, Phil Bennett, in Tirana capital.

According to the
signed MoU, the EBRD will support the Municipality of Tirana in compiling
projects, in the aspect of institutional development, and will offer assistance
in the implementation of projects and procurement. The two institutions have
also agreed to cooperate in the field of urban transport and road
infrastructure.

After signing the MoU,
the Mayor of Tirana stressed that such agreement is very important for Tirana
city and that the implementation of sustainable and eco-friendly projects will
support the establishment of a sustainable environment which will boost the
economic development of the city and will improve the living standards for its
citizens. In turn, the First Vice President of the EBRD Phil Bennett declared
that a sustainable infrastructure is one of the main conditions for the
development of a friendly urban climate and the EBRD will assist in the
establishment of such infrastructure in Tirana city.

Since the beginning of
the EBRD activity in Albania, the bank has invested about $ 1 billion in more
than 70 different projects, mostly in the economy field.