Luxembourg, 04/07/2005 (Agence Europe) - On 16 June the European Investment Bank granted a EUR 35 million loan for the rehabilitation and upgrading of a 70-km section of road from Fier to Tepelene, a key element of Albania's north-south axis. The project is co-financed by the EBRD with a similar loan of EUR 35 million and is supported by technical assistance grants from the EU for institutional strengthening and supervision of works. The project will contribute to plans to link Albania with Montenegro (north) and with Greece (south). It is also expected to have a positive impact on the economic development of Southern Albania. A beneficial social impact will come from enhanced road safety and reduced travel time, as well as from the ease of access to business and leisure opportunities the project will provide.