World Bank to continue support for Albania’s development

TIRANA, Dec. 3 – Two senior World Bank officials visited Albania pledging further support for the country’s economic development and its efforts to move closer to European institutions.
Orsalia Kalantzopolulos, the outgoing Country Director and Regional Coordinator for South East Europe, and Jane Armitage, the incoming Country Director, are in Albania on a four day visit, part of a regional trip taking them to Bosnia, Serbia, Macedonia, Kosovo and Montenegro.
They discussed achievements and challenges ahead, as well as the Bank’s role in supporting the country’s reform agenda.
Kalantzopolulos and Armitage discussed various issues with top Albanian officials and politicians.
Albanian officials thanked Kalantzopoulos for her contribution to Albania’s development through the support and advice of her institution. During her tenure, Albania saw a significant reduction in poverty from 25 percent to 18 percent and successfully graduated from IDA to IBRD, sending a positive signal to investors and the financial markets.
Kalantzopoulos noted that, “The far-reaching reforms and important progress the country has made toward its development is a testimony to the strength of this partnership.” Armitage confirmed that, “The World Bank is fully committed to continue supporting Albania in its challenges towards sustainable development and European integration.” Albania joined the World Bank in 1991. The World Bank commitments to the country to date total approximately $925 million dollars for 64 programs. (Tirana Times Staff)