In Albania we focus on:
Promoting Sustainable Energy Policies and Environmentally Sound Investments. The EBRD 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 EBRD, 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 for improving competitiveness and regional integration.
Enhancing commercialisation, competition and private sector involvement in infrastructure, alongside targeted public projects. We 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 EBRD's experience to successfully structure and implement PPP and concession financing. We 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 EBRD will continue to be a strong partner for foreign investors and for local corporates, both directly and through the Local Enterprise Facility (LEF). We 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 EBRD 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 EBRD, through a close consultation with the Bank of Albania, will respond in a timely way to emerging needs of the local financial sector.
The EBRD’s latest Albania strategy was adopted on 11 December 2012
EBRD forecast for Albania’s Real GDP Growth in 2015 2.5%
Albania has become a European Union (EU) candidate.This decision, endorsed by the European Council in June 2014, reflects the country’s progress in recent years in political and economic reform. No date has been set for the opening of accession negotiations.
A new International Monetary Fund (IMF) programme has been agreed.The programme will help strengthen public finance sustainability and should lead to a much-needed improvement in fiscal discipline, as well as the gradual clearing of public sector arrears.
- Efforts are under way to improve the investment climate. The government has put business environment reforms at the heart of its economic programme and has established a National Economic Council to advise on the most urgent reforms. However, the central bank changed its top management in September 2014, and the manner in which this was conducted has brought the independence of the institution into question.