TIRANA, Feb 28 /ATA/ The Bank of Albania Governor, Gent Sejko, participated in a meeting on issues affecting access to financing in Albania, which was hosted by the World Bank.
This meeting was held as part of the cooperation of the World Bank with the Ministry of Agriculture and Rural Development, for drawing up the concept of a support project for the financing of agriculture. This process is intended to come up with sustainable solutions, supporting access to finance for this sector, not only to budget funds, but also to private funding sources.
In his remarks, Governor Sejko stated that the banking sector in the country is well capitalized and liquid, as well as its support for the private sector has increased. However, he added that the financial sector can play a more important role to ensure a sustainable long-term economic growth in the country.
Regarding access to finance, the Governor stated that in a broader picture, it is important to explore cross-sectoral solutions – including fintech, digitalization of financial services and innovative financial instruments – which would facilitate access to financial services.
Green finance is an important area that needs swift and laser-focused action to address climate change adaptation, mitigate risks and use the opportunities that green finance offers.
In order to support market developments, the Bank of Albania is also working towards the improvement of payment systems for the introduction of new standards of communication and services, which help address infrastructure needs.
Specifically, 2021 saw 12.5 e-payments per capita, exceeding the Strategy’s target of 10 payments by the end of 2023, while, in 2022, this figure is estimated to have reached the level of 16 e-payments per capita.
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