LANA RIVER FRONT - URBAN REDEVELOPMENT

Promoter – Financial Intermediary

CITY OF TIRANA

Location

• Albania

Description

The project consists of the urban redevelopment of Lana river front in the territory of the city of Tirana in Albania. Investments include the reorganisation of streets and associated urban infrastructure on either riverbank as well as the improvement of the Lana river bed to prevent future flooding in the area.

Objectives

The project is expected to result in an improved quality of life, public safety and the reduction in costs caused by flooding thus helping the city become more resilient and adapted to climate change. The project will contribute to an improved environment and will promote economic growth and local employment during the construction phase.

Sector(s)

• Water, sewerage - Water supply; sewerage, waste management and remediation activities
• Urban development - Construction

Under ELM Guarantee

This operation is covered by the ELM Guarantee.

Proposed EIB finance (Approximate amount)

EUR 10 million

Total cost (Approximate amount)

EUR 24 million

Environmental aspects

The Bank will assess the compliance of the project with EU environmental legislation, policy and EIB environmental and social standards. Certain project components (e.g. flood protection measures) might be subject to Environmental Impact Assessments (EIAs) and biodiversity assessments. Any potential negative externalities, as well as environmental and social regulation issues will be assessed during the appraisal.

Procurement

The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank's Guide to Procurement and the relevant applicable EU public procurement rules.

Status

Signed - 5/07/2019