EU, EBRD fund Albania's main rail link upgrade

Albania has received a 35.5 million-euro ($42 million) grant from the European Union and a 35.9 million-euro ($42.5 million) loan from the European Bank for Reconstruction and Development to upgrade a rail line and build a new stretch.

A bank statement Thursday did not specify loan terms but said the project would "make a tangible difference to people and businesses."

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The upgrade of the 34-kilometer (21-mile) -long segment from the capital Tirana to the main port of Durres and a new 7.4 kilometer (4.6 mile) rail link from Tirana to the international airport will cost 90 million euros, with the remainder funded from the local budget.

Albania's 420-kilometer (260-mile) rail network is in a dilapidated state with pre-1990 diesel-powered engines and wagons.