NJOFTIM PËR SHTYP
Governor Sejko: Address to the signing ceremony of the Cooperation Agreement with EIB Global

Dear Vice-President of EIB, Mr de Groot,

Dear Mr Perr,

Dear guests,

I have the special pleasure of welcoming you to the signing ceremony of the cooperation agreement between the Bank of Albania and the European Investment Bank, as the evidence of our institutions' joint commitment to giving a new impetus to the sustainable financial development in Albania, helping to address climate challenges and establishing the conditions for the development of a greener and more resilient economy. This collaboration marks a first and very important step in building a strong partnership between our institutions.

First, allow me to express our sincere gratitude to the European Investment Bank – also known as the "EU Climate Bank " – which brings a rich combination of expertise and global experience, providing vital support for advancing our sustainable finance agenda and tackling climate challenges. We are proud to be building this new collaboration with such an important institution, having an extraordinary impact on global finance.

The Bank of Albania has been and continues to be at the forefront of efforts to integrate green finance and build a financial system that encounters climate challenges and supports sustainable economic development. Our Mid-term Green Strategy, approved in 2023, is a reflection of this commitment and a roadmap for achieving our goals in this framework.

In 2024, we have undertaken several important initiatives that show our concrete commitment, including the analysis of the banking sector’s exposure to climate risks - which has helped identify the most affected regions and sectors, - as well as the development of the Guide for Climate Risk Management, which establishes a clear framework for banks to integrate these risks into their risk management systems. 

These are very important steps toward a deeper understanding of the impact of climate on the financial sector and towards the development of appropriate measures to address future challenges.

Yet, they are only the beginning of a broader process for transforming our financial system. In this context, cooperation with international strategic partners is crucial. Collaboration with the European Investment Bank, is essential to advancing our green transition.

Through the European Investment Bank’s Green Financial Systems Program, we will develop a green taxonomy and strengthen the regulatory framework for addressing climate risks. The green taxonomy will serve as a guide for classifying sustainable activities, helping to channel funds towards projects with a positive impact on environment and enhancing transparency for investors and financial institutions.

At this point, allow me to highlight the importance of aligning with European Union standards. As a country in the process of EU integration, harmonizing our legal and regulatory framework with European directives on sustainable finance is a priority for us. The agreement we are signing today is a concrete step in this regard. It reflects our commitment to building a financial system in harmony with the best European practices and that helps achieve the country’s strategic objectives.

Additionally, I would like to thank the European Union for its continuous support in Albania’s integration process and for promoting sustainable finance. Our joint work in building a green and sustainable future is an excellent example of cooperation that brings concrete benefits to Albanian citizens and our environment.

Concluding, I would like to express my deep gratitude to the European Investment Bank for their support and commitment. I would also like to thank the teams from both institutions who worked on this agreement, for their dedication and professionalism.

Collaboration with the EIB is crucial for addressing global climate challenges and ensuring that Albania has a financial system which is able to withstand difficulties, in addition to creating new opportunities for a sustainable development. I am confident, this collaboration will yield concrete results and contribute significantly to the realization of our objectives for a sustainable and climate-resilient economy.

Thank you for your participation and strong support!