TIRANA, May 28 /ATA/ – The Head of Albania for the European Bank for Reconstruction and Development (EBRD), Ekaterina Solovova, has reaffirmed the Bank’s continued financial and technical assistance to Albania to support the country’s progress towards EU membership.
Addressing a conference at the Bank of Albania on presentation of the EBRD’s the Transition Report 2024-25 – Navigating industrial policy, Solovova announced that the EBRD board has adopted the new five-year strategy for Albania, focusing on strengthening governance, boosting private sector competitiveness, and promoting a low-carbon transition.
According to Solovova, the EBRD board has endorsed providing close to 900 million euros in financing and impactful policy and technical assistance to support Albania’s rapid progress on the path towards EU accession and the country’s goal to goal to wrap up accession negotiations by 2027
She noted that the new strategy is fully aligned with the EBRD’s global objectives and is tailored to Albania’s specific priorities and needs, including transition to green economy.
“The EBRD will continue supporting Albania in diversifying and expanding renewable energy sources, through assistance in policy design, financing new capacities and improving transmission and distribution networks,” she stated.
The strategy prioritizes improving energy efficiency in public and municipal services, as well as supporting partner financial institutions and private sector clients in strengthening their capacities.
“The strategy also aims to help the Albanian private sector prepare to access the European single market through increased direct and indirect financing, improved competitiveness and integration of Albanian businesses into global value chains. The financing will be accompanied by targeted technical assistance to increase productivity and foster innovation,” Solovova added.
Another important element of the strategy – she went on emphasizing – focuses on improving foreign investment climate and infrastructure.
“The EBRD will continue to support state-owned enterprises in improving their corporate governance and environmental, social and governance (ESG) practices. The institution will also invest in the development of key connectivity infrastructure, while also providing technical assistance,” Solovova concluded.
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