Albanian Development Fund to launch major urban regeneration project
The Albanian Development Fund (ADF) is set to initiate a national investment project aimed at urban regeneration in Albania’s four main regions. The project will target densely populated villages and peripheral or informal areas, with a focus on enhancing the quality of life for residents and improving economic and social connectivity.
Why is this important: The project represents a significant step toward urban revitalization, improving infrastructure and boosting tourism potential in key areas. The investment aims to address the needs of underserved communities and foster sustainable development.
Details of the project: The project will be implemented in two lots, with regions 1 and 2 receiving 439 million lekë in funding, and regions 3 and 4 a maximum of 416 million lekë.
- Project objectives:
- Increase vehicle and pedestrian circulation efficiency
- Improve road safety
- Upgrade urban blocks with infrastructure enhancements, including:
- Roads and sidewalks
- Parks and green spaces
- Building facades
- Rest areas and recreational spaces
Context: The initiative, called “Urban Regeneration in Peripheral, Informal Areas and Densely Populated Villages,” is part of the ADF’s Operational Program for 2022-2024. This effort aims to link urban areas with tourism hubs, unlocking economic potential and fostering social cohesion.
The project underscores a commitment to modernizing Albania’s infrastructure, addressing long-standing urban challenges, and promoting regional development. It comes in the wake of several similar projects that began with the so-called Urban Renaissance program for Albania’s city centers in 2014, the 100 Villages project and several major infrastructure investments.
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