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In the period since the adoption of the previous Strategy in 2009 progress in further democratic transition has been uneven. Yet Albania was the only country in the south-eastern European region that avoided a recession in recent years.
Strategy (249KB - PDF)
Comments (70KB - PDF)
Local language translation (317KB - PDF)
The Bank’s priorities for the next three years will focus on sustainable development of the private sector, building on the strong entrepreneurial spirit in the economy. The Bank will also invest in high-priority public sector projects in infrastructure where such investments can address important transition gaps. In light of the transition challenges identified above, the Bank’s activities in Albania will focus on the following areas:
Promoting Sustainable Energy Policies and Environmentally Sound Investments. The Bank will work closely with the Albanian authorities and the independent regulators to enhance the regulatory and administrative framework for private sector investments, particularly in the renewable energy sector. The Bank, through its dedicated facilities, will finance energy efficiency and renewable energy projects and, in cooperation with other IFIs and commercial banks, will support the upgrading and financial viability of energy generation and distribution. Interconnection lines and gas pipeline will also be of key importance to improve competitiveness and regional integration.
Enhancing commercialisation, competition and private sector involvement in infrastructure, alongside targeted public projects. The Bank will assist the Albanian authorities, both at the national and local level, to increase private sector involvement in transport and municipal services, including in road maintenance. Financial assistance will be complemented by technical advice, capitalizing on the Bank’s experience to successfully structure and implement PPP and concession financing. The Bank will also work closely with the Government on advancing transition in the seaport and railways sectors.
Supporting the development of a more competitive private sector. The Bank will continue to be a strong partner for foreign investors and for local corporates, both directly and through the Local Enterprise Facility (LEF). The Bank will pursue an active investment policy in sectors such as agribusiness, manufacturing and services, ITC and tourism, all of which have the potential to modernise and increase value creation in the Albanian economy, which is still too reliant on imports and labour-intensive textile subcontracting.
Strengthening the financial sector and deepening intermediation. The Bank will support the banking system in a difficult market environment with credit lines and other facilities such as the Medium Size Co-Financing Facility (MCFF). The Bank, through a close consultation with the Bank of Albania, will respond in a timely way to emerging needs of the local financial sector.
The Bank will cooperate closely with the European Union and with other IFIs in all of its operations as well as through policy dialogue, in order to achieve maximum transition impact and to enable Albania to integrate further into EU and global structures.
Last updated 4 February 2013