The Council of Europe Development Bank (CEB) has allocated 28.7 million euros (32 million U.S. dollars) to Albania to finance the project on "development of the Albanian alps and coastal areas", the Albanian side said on Thursday.
According to Albanian authority, the project will support one of Albania's most beautiful coastal cities, Vlora, (southern Albania), including also construction of the main road axis Vlora-Kanina.
The Albanian Development Fund (ADF) explained in a statement that the aim of the project was to improve infrastructure to serve the function of tourism development.
In the meantime, ADF also said it had opened calls on proposals to interested companies, adding that the project on this road will be co-financed by a 6-million-euro fund of the Albanian government.
"Construction of the road is expected to finish within six months aiming to improve inhabitants' commuting means as well as the tourists visiting the castle," ADF statement said.