PRESS RELEASE
Governor Sejko received the French Ambassador, and the Head of the Regional Economic Service, resident in Sofia

On 20 June 2018, the Governor of the Bank of Albania, Mr Gent Sejko, received H.E. Ambassador of the Republic of France in Tirana, Mrs Christina Vasak, and the Head of Regional Economic Service for Danube/Balkans area, Resident in Sofia, Mr Jean-Marie Demange, at the Bank of Albania.

Governor Sejko presented Ambassador Vasak and Mr Demange with an overview of economic developments in Albania, and underlined that the economic growth is set on a positive development trajectory, while the main economic balances are expected to strengthen in the future.

He pointed out that the financial system is characterised by adequate capitalisation and liquidity levels. Referring to the overall landscape of the banking sector, the Governor singled out two core elements: growth of credit; and improvement of the non-performing loans ratio.

The Governor added that the further boosting of lending to economy and the implementation of the plan on addressing the non-performing loans remain at the focus of the Bank of Albania.  The inter-institutional action plan to reduce non-performing loans has provided positive results, driving the ratio of non-performance loans to total credit downward.

The interlocutors discussed also about the supervisory role of the Bank of Albania in strengthening the stability of the system, and in the framework of anti-money laundering and terrorism financing. Governor Sejko highlighted that this process is quite important and the institutions in Albania are collaborating by sharing of information, aiming at strengthening the risk-based supervision approach. 

He added that the banking system, subject of the law on anti-money laundering, is in a consolidating and development process. Anti-money laundering was also subject of monitoring and assessment, not only by the Albanian supervisory authorities, but also by specialised international institutions, which have provided rather positive evaluations, such as the Moneyval Experts Committee.

H. E. Ambassador Christina Vasak and Mr Jean-Marie Demange thanked Governor Sejko for the meeting and commended the substantial contribution of the Bank of Albania in safeguarding Albania's macroeconomic stability.

The interlocutors, in conclusion, shared the same views about the perspectives of advancing the economic cooperation between the two countries, through potential projects in the Albanian economy, such as in the financial and infrastructural sectors, and the growth of foreign investments in Albania.