TIRANA, September 8 /ATA/ Governor of the Bank of Albania Gent Sejko received today the First Vice President of the European Bank for Reconstruction and Development (EBRD) Jurgen Rigterink.
Sejko praised the excellent relations of cooperation with the EBRD, its important contribution and concrete support with financial investments in key areas of our country’s economy.
The Governor further briefed the EBRD Vice President on the latest economic and financial developments in the country. In particular, the Governor focused on addressing the main challenges facing the economy such as: the impact of the pandemic, developments in the financial and banking system, expectations regarding future economic indicators, macro-economic policy framework and structural reforms needed to boost economic growth and improve the business climate.
The Governor stressed that the gradual normalization of the economic situation and the strengthening of the sustainability of the recovery during 2021, should bring back into the focus of decision-makers the need to accelerate the structural reform agenda. These reforms should aim to increase competitiveness, further improve the investment and business climate, and strengthen the long-term sustainability of public finances.
On his part, the Vice President of the EBRD praised the Bank of Albania for the policies pursued, which have contributed to maintaining the macroeconomic stability of the country and the continuous consolidation of the financial system in Albania. Rigterink said that Albania was significantly affected by the COVID-19 pandemic, but reacted strongly to the crisis. Now, it is the time to move forward and return to economic progress and growth – a development that must be inclusive and sustainable. These are also the priorities of the EBRD, which is ready to support the country as it emerges from the crisis and builds a better future.
The EBRD has so far invested 1.7 billion Euros in 115 projects in the country. The country’s strategy emphasizes support for sustainable private sector development, fostering entrepreneurship in the economy, commercializing infrastructure projects, and promoting renewable energy and environmentally sound investments.
In conclusion, the EBRD Vice President expressed his commitment to continue the cooperation with the Bank of Albania on strengthening the financial sector by supporting the banking system thanks to credit lines and other facilities./p.s./
