US foundation pledges $140 million investment in Albania’s tourism, education

US foundation pledges $140 million for Albania

TIRANA, Albania — A U.S.-backed investment corporation says it has raised $140 million to fund projects in tourism and education.

The Albanian-American Enterprise Fund says it will use the money for nonprofit ventures in former Communist Albania including entrepreneurship and eco-tourism.

The AAEF was started in 1995, with a $30 million grant from the U.S. government.

The Fund’s chairman Michael Granoff announced the new investment projects Thursday.