EIB Global strengthens partnership with Albania

This article is published in association with European Investment Bank.

• The EU bank has provided advisory support to facilitate the introduction of a green taxonomy in the country.
• EIB Vice-President Robert de Groot and Albanian Minister for Europe and Foreign Affairs Hasani have signed a host country agreement to enhance mutual collaboration.
• Since 2010, EIB Global has provided €420 million for key transportation, water supply, energy and private sector projects in Albania under the Team Europe initiative.

European Investment Bank (EIB) Vice-President Robert de Groot has visited Albania, meeting with Prime Minister Edi Rama and high-level government and EU representatives to discuss and strengthen cooperation on priority areas such as energy, transport, regional connectivity and private sector development.

To this end, he signed a cooperation agreement with the Governor of the National Bank of Albania Gent Sejko for the implementation of the EIB’s Greening Financial Systems programme, in the presence of EU Delegation’s Head of Cooperation Hubert Perr. The technical assistance provided through this programme will enable the Bank of Albania to incorporate climate risks into the regulatory framework, while developing the green taxonomy for the financial sector in the country in line with the Paris Agreement. It will help Albanian banks embrace climate finance best practices, catalyse new funding for green projects, and better assess, monitor and report on climate-related risks.

These efforts will encourage green investments among Albanian companies, while helping them adopt the necessary transition strategies to mitigate climate risks. In turn, this will enable sustainable and climate-resilient growth in the Albanian economy. Funded by the International Climate Initiative Fund, the programme is being implemented in partnership with the Nationally Determined Contributions Partnership, a global coalition of countries and institutions committed to advancing climate action through sustainable development.

On the same occasion, EIB Vice-President de Groot signed a host country agreement with the Republic of Albania, represented by the country’s Minister for Europe and Foreign Affairs Igli Hasani, in the presence of EU Ambassador to Albania Silvio Gonzato. This agreement will enable the EIB to strengthen cooperation with local partners under Team Europe initiative to maximise financial and technical support for key projects such as the modernisation of the railway line from Vorë to the border with Montenegro, the improvement of water distribution system in the Municipality of Tirana, and the deployment of favourable financing for small businesses.

EIB Vice-President Robert de Groot, who is responsible for operations in the Western Balkans, said: “The signing of these agreements mark yet another milestone for the European Investment Bank in Albania. Going forward on Albania’s path to EU accession, we are committed to delivering new high-impact projects that promote improved connectivity and green transition in Albania”.

Minister for Europe and Foreign Affairs of Albania Igli Hasani said: “The Host Country Agreement with the EIB, signed today, strengthens its role in boosting Albania’s rapid economic development and EU integration. EIB has supported Albania’s transition from the start. Increased funding and expertise will aid in implementing the EU’s Economic and Investment Plan & Growth Plan for the Western Balkans. Tirana is set to grow as a regional economic hub.”

Governor of the Bank of Albania Gent Sejko said: “The Bank of Albania has taken substantial steps to enhance the financial sector’s capacity to address climate risks. Through collaboration with the European Investment Bank, an institution with extensive expertise in sustainable finance, we are empowered to advance green finance, align our policies with European best practices, and build a financial system equipped to meet the challenges of sustainable development. This agreement underscores our shared commitment to fostering green finance and supporting a financial system that drives the transition towards a sustainable and resilient economy. The green taxonomy, to be developed through this partnership, will play a crucial role in channelling funds toward environmentally impactful investments, fostering greater transparency and financial sustainability.”

Head of the EU Delegationto Albania Ambassador Silvio Gonzato remarked: ““The EU in Albania is glad to support the strengthening of the partnership between the European Investment Bank and Albania, at a time when Albania has announced its ambitious schedule for the accession negotiations. The EIB is a key partner of the EU when it comes to supporting Albania’s EU integration process. Our joint focus now is on actively supporting Albania’s implementation of the EU Growth Plan and the related Reform and Growth Agenda, fostering modernisation, reforms, and sustainable economic growth. We call upon Albania to maximise the benefits of its partnership with the EU and the EIB to build the foundations for a stronger, more connected and more prosperous Albania within the EU.”

Since 2010, EIB Global has provided €420 million for key transportation, water supply, energy and private sector projects in Albania.

Background information:

About the EIB and EIB Global:

The EIB is the long-term financing institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB supports projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of the Global Gateway. We aim to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to local people, companies and institutions through our offices around the world.

About EIB Global in the Western Balkans:

The EIB is a leading international financier in the Western Balkans. Since 2009, the Bank has financed projects worth close to €11 billion in the region. On top of its continued support for the reconstruction and upgrade of public infrastructure, since 2010 the EIB has expanded into many new areas, such as healthcare, research and development, education and small and medium enterprises. 

About the EIB in Albania:

The EIB has been active in Albania since 1995. To date, 27 projects have been financed and over €700 million invested, mostly in key transport, energy, water and wastewater infrastructure.