UAE – Mubasher: Abu Dhabi Fund for Development (ADFD) has provided AED 257 million ($70 million) fund to Albania to develop more than 2,000 residential units in the country's Durrës County, according to the Emirates News Agency (WAM).
The fund is part of the urban redevelopment of one of Albania’s leading economic centres which witnessed damage from recent earthquakes.
In 2019, Durrës County, home to Albania’s second-largest city, was hit by two earthquakes, leaving thousands of local residents without homes.
The city has the Port of Durrës, one of the largest transportation, shipping, and logistics hubs on the Adriatic Sea connecting Albania with Western Europe.
The Director-General of ADFD, Mohammed Saif Al Suwaidi, said: "It helps provide people with safe, affordable housing in line with UN Sustainable Development Goals while contributing to the positive economic development of a long-term strategic global partner nation."
The Minister of State for Reconstruction in Albania, Arben Ahmetaj, commented: "We also have an excellent track record successfully working with ADFD to fund and develop critical infrastructure projects that are strategically important to sustaining our national economy."
