World Bank to aid the financial sector

TIRANA, 25 Feb 2009 – A project initiated by WB is aiding the modernization of the financial sector in Albania. More than 100 experts are working together to draft regulations and practices for a more efficient system. The experts are working under the direction of “SPI Albania” a partnership for the modernization of the financial sector created in 2008 by Bank of Albania and the Albanian Banks Society with the goal to improve collaboration among Albanian experts in preparation for the country’s process to become a member of the European Union.
The Puglia District and the World Bank Convergence Program, financed by the Italian Ministry of Economy and Finance, has technically and financially supported the partnership.
The SPI committee is head by First Vice Governor of Bank of Albania, Fatos Ibrahimi.
“Together with our colleagues in administration and other agencies we monitor the progress of experts as they draft proposals for different reforms. In every meeting we have informal discussions over their finds and help them in reaching conclusion that will have practical impacts in the life of Albanian citizens,” Ibrahimi said.
According to him, SPI Albania has opened a whole new dimension where experts can work together to help Albania in its preparations to become a member of EU. In many ways, Albanian experts are doing a work that before was only done by international ones.