EIB Signs Key Agreements To Support Albania's Green Transition And EU Integration

1/24/2025 10:10:00 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 24. European Investment bank (EIB) Vice-President Robert de Groot visited Albania to discuss enhancing cooperation in energy, transport, regional connectivity, and private sector development with Prime Minister Edi Rama and EU representatives, Trend reports.

During his visit, de Groot signed a cooperation agreement with the Governor of the National Bank of Albania, Gent Sejko, for the EIB's Greening financial Systems program. The program, supported by the International Climate Initiative Fund, will help Albania integrate climate risks into its regulatory framework, develop a green taxonomy for the financial sector, and foster climate finance best practices in local banks. These efforts aim to encourage green investments, reduce climate risks, and drive sustainable economic growth.

"The signing of these agreements marks another important milestone in EIB's work in Albania," said de Groot. "We are committed to supporting Albania's green transition and enhancing connectivity as it progresses toward EU accession."

In addition, de Groot signed a host country agreement with Albania, represented by Minister for Europe and Foreign Affairs, Igli Hasani, which strengthens EIB's collaboration under the Team Europe initiative. The agreement will support major projects, including modernizing the railway from Vorë to Montenegro, improving Tirana's water system, and offering favorable financing for small businesses.

Ambassador Silvio Gonzato, Head of the EU Delegation to Albania, highlighted the importance of EIB's role in Albania's EU integration process. "The EU is committed to supporting Albania's modernization and sustainable economic growth," he said.

Since 2010, the EIB has invested 420 million euros in Albania, funding vital projects in transport, energy, water supply, and the private sector.

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