PRESS RELEASE
Governor Sejko meets representatives of the Board of Directors of the European Bank for Reconstruction and Development

The Governor of the Bank of Albania, Mr Gent Sejko, met with representatives of the EBRD Board of Directors at the Bank of Albania, during their visit in Albania. The Bank of Albania First Deputy Governor, Ms Elisabeta Gjoni, Second Deputy Governor, Ms Natasha Ahmetaj, and the Director General of the Deposit Insurance Agency, Mr Genc Mamani, and other representatives of the Bank of Albania also attended this meeting.

Governor Sejko informed the representatives of the EBRD Board of Directors on the most recent economic and financial developments in Albania. The Governor pointed out that Albania's economic growth is on a positive trajectory and the key economic balances will strengthen in the years ahead.

Regarding the banking system, Governor Sejko said that the system shows very good financial indicators. Among others, some of the most important issues discussed in this meeting were: promotion of lending, reduction of non-performing loans, and the recent initiatives for the de-euroization of the Albanian economy. Governor Sejko emphasised that addressing these issues has been one of the main commitments of the Bank of Albania, which has continuously taken relevant measures, including legal and regulatory improvements. These measures have provided their gradual and sustainable effects, which are expected to continue in the near future.

Some other issues of great interest included: development of the capital markets, aiming to further expand the financial system; compliance with the international guidelines in certain aspects, such as money laundering, as well as the focus on the broader financial education of the public and other stakeholders.

Representatives of the EBRD Board of Directors commended the Bank of Albania for its policies and role with regard to safeguarding macroeconomic stability and promoting economic growth.

They added that the EBRD will continue to contribute in Albania through projects of particular importance in fields such as financial stability, agribusiness, and energy. Also, the interlocutors discussed on some of the EBRD's priorities in Albania including the enhancement of private sector competitiveness, reliance on a strong entrepreneurial spirit in the economy, strengthening infrastructure regional links, promotion of sustainable energy and sound investments on the environment.

Participants highlighted that addressing major challenges facing the Albanian economy, such as maintaining political stability and further continuation and deepening of structural reforms, are crucial for improving the business climate and attracting more foreign investments in Albania.

Concluding, Governor Sejko pointed out the excellent relationship between Albania and the EBRD. He also thanked the EBRD for its significant contribution to the Albanian economy and underlined that the expansion of the cooperation remains very important, not only in terms of the concrete support through financial investments, but also of the guarantee and reputation of the projects funded by the EBRD.