The European Investment Bank (EIB), the lending arm of the EU, will provide a €2 million technical assistance grant for the preparation of an affordable housing project in Tirana. The grant will strengthen municipal capacities and develop the necessary documentation in line with EU standards and EIB climate and environmental targets.

The Bank will support the municipality in its effort to provide improved and energy efficient accommodation for the most vulnerable residents of Tirana. The project concerns the construction of new buildings and ancillary infrastructure over an area of 86,600 m² to host about 1,600 low- and middle-income households totalling nearly 6,500 people.

The grant will make it possible to provide technical assistance for the preparation of an affordable social housing project, incorporating far-reaching positive social, environmental, climate and economic impact for residents in the Albanian capital. The assistance comes under the EIB’s Economic Resilience Initiative, aiming to mobilise finance to support growth, job creation, vital infrastructure projects and social cohesion in the Western Balkans.