BANK OF ALBANIA
Press release: ECB’s Technical Assistance Programme with the Bank of Albania successfully concluded
Publication date: 07.10.2014
On 29 September 2014, the European Central Bank (ECB) together with 11 central banks of the European System of Central Banks concluded successfully a technical assistance programme with the Bank of Albania. The purpose of the programme was to assist the Bank of Albania in the approximation process with the European Union central banking rules, procedures and standards. With funds from the European Commission, the programme started on 17 April 2014 and was implemented by the European Central Bank in partnership with Deutsche Bundesbank, Banque de France, Banca d' Italia, the Central Bank of Malta, De Nederlandsche Bank, Oesterreichische Nationalbank, Banco de Portugal, Banka Slovenije, and Národná Banka Slovenska. Experts were also provided by the Bulgarian National Bank and Česká Národní Banka in support of the programme.
During the six-month duration of the programme, experts from the ECB and the participating central banks assessed and analysed 13 functions of the Bank of Albania vis-à-vis the European Union and international standards and policies. The First Deputy Governor of the Bank of Albania, Mrs Elisabeta Gjoni, underlined that the cooperation programme with the ECB provided an important contribution towards accelerating the harmonisation of Bank of Albania practices with the European ones, as well as towards building administrative capacities of the institution, which are also useful for the Albanian economy, in general. The Bank of Albania committed to implement the recommendations presented in the final report, incorporating them in its strategic and operational plans.
The cooperation contributed to strengthening the existing relations and expanding the collaboration network between the Bank of Albania, the regional and Euro system central banks. The responsibility showed by the Bank of Albania, the prominent confidence, the professionalism and devotion of the engaged domestic and foreign experts throughout the programme duration were among the main the factors that led to the programme's success.
The conclusion of this programme is a core step towards strengthening the independence, transparency, accountability and professionalism of the Bank of Albania, as well as towards promoting monetary and financial stability in Albania.