By Axel Reiserer
The EBRD Board of Directors has adopted a new country strategy for Albania that sets out the framework for the Bank’s work in the country for the period 2020-25.
The documents identify the EBRD’s priorities as an investor and a partner in policy engagement in the coming years.
The Bank continues to see and support comprehensive EU approximation as the main external anchor for reforms, including the strengthening of governance and the rule of law.
To speed up convergence to EU income levels, Albania needs to increase productivity by shifting the growth model away from consumption towards investments and exports, especially in view of unfavourable demographic developments. The business climate needs to improve in order to support diversification and attract foreign direct investment, particularly in sectors such as tourism, manufacturing and agribusiness, and to enable sustainable economic growth.
To address these challenges and promote regional integration, the EBRD will pursue the following strategic priorities in Albania in 2020-25:
- support economic governance improvements across the economy
- enhance private sector competitiveness and inclusion by promoting wider access to finance and improving people’s skills
- strengthen energy diversification and low-carbon transition under the Green Agenda for the Western Balkans.