The subsequent meeting of the ADF's Board of Trustees was held on 15 January 2010. The focus of this meeting was on the approval of the annual budget for the investments to be carried out by the Albanian Development Fund during the year 2010. The approved budget for this year totals 3,929 million leks.
The principal investments for this year will be accomplished in the framework of the project "The Improvement of the Secondary and Local Roads", "Rural Water Supply" Program, the project of "Community Works III" as well as investments of the Albanian Government.
The largest part of investments will be carried out in the framework of the project "The Improvement of the Secondary and Local Roads" whose implementation has started three years ago. This project aims at improving the access to basic services and increasing the possibilities for the economic development of the rural population.
So far, the funding partners engaged in this project are the Albanian Government, the World Bank, OFID and the Council of Europe Development Bank with an investment estimated at US$ 97 million. Concerning the year 2010, the goal of the project is to reconstruct and rehabilitate 340 km of road.
The budget for the current year is characterized by a considerable increase in investments, reducing thus markedly the operating cost for their accomplishment.
Funds by the EBRD, EBI. IDB and IPA program which will complete the total budget of the project at an estimated fund of US$ 238 million will be allocated to this project for the year 2010 increasing the total project cost at US$ 335 million.
Similarly, during 2010, the investment for the project "Rural Water Supply" funded by KFW will start. This project consists in the rehabilitation or construction of 28 rural water supply schemes in 50 villages of the three Districts in Northern Albania.
Another important project which finalizes this year its investment stage is the project "Community Works III" funded by Council of Europe Development Bank at an estimated cost of 14.38 million euros. This project aims at encouraging the socio-economic development of rural areas which possess potentials of economic development especially in tourism. This project includes 16 communes which are geographically spread across the country and possess special tourist attractions.