Governor Sejko welcomes the agreement between the European Bank for Reconstruction and Development and the Albanian Deposit Insurance Agency

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 100 million stand-by credit line to the Albanian Deposit Insurance Agency (ADIA), to strengthening the stability of the banking sector in Albania and boosting customers’ confidence.

The credit line, fully guaranteed by the Government of Albania, will provide back-up liquidity to tackle potential consequences of the Covid-19 pandemic on the economy. The funds will be available - if necessary- to compensate insured depositors, reassuring commercial and private bank clients.

The Governor of the Bank of Albania, Mr Gent Sejko, welcomes this agreement signed between the EBRD and ADIA, as it strengthens the Albanian financial sector in the context of the Covid-19 pandemic situation.  The Governor said that the Albanian banking system is liquid and well-capitalised. The enhancement of insurance schemes capacities is a value added in this regard, by increasing the level of depositors’ protection. Mr Sejko underlined that this credit line is an additional security mechanism to the Albanian financial system.

Governor Sejko reiterates his appreciation to the EBRD for the significant contribution and the concrete support with financial investments in crucial areas of the Albanian economy and welcomes the EBRD to continue considering the opportunities the Albanian economy offers.

ADIA was founded in 2002 as an independent public institution.  Its mission is to protect individual depositors and to pay out insured deposits in case of bank failure, with an overarching objective of strengthening the stability of the banking and financial system in Albania.

The EBRD has supported the institution with funding and technical assistance for the first time in 2013. The EBRD is a leading institutional investor in Albania. To date, the Bank has invested more than €1.5 billion in 112 projects in the country.