PRESS RELEASE
Governor Sejko attends the EBRD 2017 Annual Meeting and Business Forum Cyprus, 9-11 May 2017

On 9 - 11 May 2017, the Governor of the Bank of Albania, Mr Gent Sejko, attended the EBRD 2017 Annual Meeting in Cyprus. The meeting's topics focused on 'Targeting Green and Inclusive Growth' and 'Meeting Regional and Global Challenges'.

During the days of the Annual Meeting, Governor Sejko had a series of important meetings with renowned personalities of international finance. He met with, Mr Holger Muent, EBRD Director for the Western Balkans, Mr Peter Sanfey, EBRD Deputy Director for Country Economics and Policy within the Department of Economics, Policy and Governance, and other high-level representatives of the European Bank for Reconstruction and Development (EBRD).

Governor Sejko informed the interlocutors on the latest developments in the Albanian economy, focusing on the outlook of economic growth, as well as on developments of the banking sector in Albania. The Governor highlighted that economic growth in Albania is on a positive development trajectory and the main economic balances will consolidate during the years ahead. Regarding the banking system, Governor Sejko pointed out that it shows very good financial indicators. Some of the most pressing issues they discussed focused on boosting lending and reducing non-performing loans. The Governor underlined that addressing non-performing loans has been one of the commitments of the Bank of Albania, accompanied with a carefully prepared action plan for their reduction. He added that the implementation of this plan has helped reduce the level of non-performing loans down to around 17.4%.

Governor Sejko thanked the EBRD representatives for the valuable contribution and concrete support through financial investments in key areas for the Albanian economy, inviting them to continue considering Albania's potentials.

Valuing the role and contribution of the Bank of Albania in maintaining macroeconomic stability in Albania, the EBRD representatives thanked Governor Sejko for the existing institutional cooperation. They also discussed about future projects regarding the financial system and beyond. EBRD representatives valued Albania's potential and affirmed the commitment for enhanced cooperation in areas of particular interest to Albania, such as energy and agro-industry.

EBRD representatives discussed with Governor Sejko on the advantages of creating a common regional market aiming to further develop cross-border economic collaboration. The interlocutors pointed out that a broader market is considered as a very good opportunity to attract large investors and financing.

In addition, during the meetings, Governor Sejko met with representatives of other international institutions, such as Euro-money and Finance in Motion.