The visit is part of a regular series of consultations that enable the EBRD directors to obtain up to date information on developments in the bank’s countries of operation. With committed investments of 545 million, the EBRD is one of Albania’s largest investors, and monitors Albania’s economy fairly closely.
By Tirana Times Staff
The European Bank of Reconstruction and Development sent a high-level delegation to Albania and Macedonia this week, according to EBRD’s Web site.
The visit is part of a regular series of consultations that enable the EBRD Directors to obtain up to date information on developments in the bank’s countries of operation.
In Albania starting on November 9, members of the EBRD delegation met the Albanian Finance Minister, Ridvan Bode, the First Deputy Governor of the Central Bank, Fatos Ibrahimi, the Minister of Transport, Sokol Oldashi, the Mayor of Tirana, Edi Rama, representatives of the business and local NGOs, as well as diplomatic community.
The purpose of the visit is to get an update on the priorities of the Albanian government on the expected role of the EBRD in the context of the forthcoming country strategy.
With committed investments of 545 million in Albania in more than 70 projects, the EBRD is one of the largest investors in the country, so the bank monitors Albania’s economy fairly closely.
According to its latest EBRD report on Albania, the country’s economy is expected to grow by approximately 3 percent in 2009, declining from 6.8 percent growth of 2008.
It added that the effects of global crisis in Albania have been restrained, primarily due to the relatively strong banking system, which is well developed in recent years and limited exposure to the Albanian economy to international markets.
In terms of the future in some competitive states in the international arena, like Albania, Poland, Slovakia and Slovenia, where banking systems before the crisis were relatively strong, there will be relatively faster growth in 2010, at a level between 2 and 5 percent, according the bank’s report.
