The EIB Global is supporting an affordable housing development that will help accommodate 6 500 people in Tirana.
This is the first EIB affordable housing project in the Western Balkans and the third project with the city of Tirana.
As the EU climate bank, the EIB aims to help the country increase resilience to climate change, in line with European energy efficiency standards.
The European Investment Bank (EIB), the EU bank, will provide a €2 million technical assistance grant for the preparation of an affordable housing project in Tirana. The grant will strengthen the municipality’s capacities and develop the necessary documentation in line with EU standards and EIB climate and environmental targets. The Bank will support the municipality in its effort to provide improved and energy efficient accommodation for the most vulnerable residents of Tirana. The project concerns the construction of new buildings and ancillary infrastructure over an area of 86 600 m2 to host nearly 6 500 people and about 1 600 low and middle-income households.
The EIB Global grant will make it possible to provide technical assistance for the preparation of an affordable social housing project, incorporating far-reaching positive social, environmental, climate and economic impact for residents of Albania’s capital. The grant comes under the EIB’s Economic Resilience Initiative, aiming to mobilise finance to support growth, job creation, vital infrastructure projects and social cohesion in the Western Balkans.
EIB Vice-PresidentLilyana Pavlova, responsible for the Western Balkans, said: “The European Investment Bank is glad to further support Tirana’s municipality in addressing city’s urban development needs in a socially inclusive and energy efficient way. The grant signed today under our new branch EIB Global is a further proof of our dedication to contribute to sustainable growth of Albania, alignment with EU standards and adaptation to climate change”.
Mayor of Tirana Erion Veliaj said: “We have signed a EUR 2 million grant, which will help us assess the municipality’s needs for social housing, the resources we will have to dedicate and execution plan for the upcoming years, as steps we need to undertake to ensure Tirana's growth. After two years of talks and negotiations, I thank you sincerely for choosing Tirana."
Ambassador Christiane Hohmann, Head of EU Delegation to Albania, said: “The EU, via its bank, the European Investment Bank (EIB) will be improving social housing in Tirana by investing in energy-efficient accommodation for the most vulnerable. This is another step forward, ensuring that Tirana’s urban development adopts to climate change and generates sustainable growth as the capital moves closer to EU standards in terms of social inclusion and energy efficiency.”
The Bank is already working with the Municipality of Tirana on the modernisation of its water distribution network and the urban redevelopment of Lana riverfront, including the reorganisation of streets and associated infrastructure on both banks of the river. The city is also benefiting from technical assistance under the City Climate Finance Gap Fund that will help Tirana improve energy efficiency and resilience to climate change.
About EIB Global:
EIB Global is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnerships within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
The EIB is a leading international financier in the Western Balkans. Since 2009, the Bank has financed projects totalling almost €10 billion in the region. Besides continuing its support for the reconstruction and upgrading of public infrastructure, since 2010 the EIB has expanded into many new areas, such as healthcare, research and development, education and small and medium-sized enterprises (SMEs). For detailed information on EIB activities in the Western Balkans please visit the following website: www.eib.org/en/publications/the-eib-in-the-western-balkans
About the EIB in Albania:
The EIB has been active in Albania since 1995. To date, 26 projects have been financed and over €640 million invested mostly in supporting key transport, energy, water and wastewater infrastructure. For more information regarding the EIB’s projects in Albania, please refer to: Albania and the EIB
About Economic Resilience Initiative
The Economic Resilience Initiative (ERI) was created in 2016 in response to a call from the European Council. The objective of the initiative is to help shift patterns of migration in the medium to long term and provide support to forcibly displaced populations by increasing the resilience of economies to future shocks. The ERI is doing this by mobilising finance to support growth, job creation, vital infrastructure projects and social cohesion in the European Union’s neighbouring regions. For more information please visit https://www.eib.org/en/about/initiatives/resilience-initiative/index.htm
The European Investment Bank (EIB), bank of the European Union, will invest €80 million to improve water distribution system in the Municipality of Tirana, enabling continuous availability of drinking water for over 800,000 people and reduction of water losses. Provided under Team Europe’s support, this investment will modernize water management efficiency, improve water supply security and contribute to better health and environmental conditions in the capital, which is to increase resilience to climate changes and promote economic growth.
The EIB increases its presence in Albania by providing some EUR 11 million to finance the regeneration of the Lana River area in Tirana. The new investment is the Bank’s first integrated urban regeneration project in the Western Balkans, encompassing several sectors including mobility, public transport, urban infrastructure and flood risk protection.