The Bank of Albania will participate in the third phase of the Program for Strengthening the Capacities of Central Banks in the Western Balkans, an initiative funded by the European Union, which aims to support the preparation of the central banks of the region for integration into the European System of Central Banks and for approximation with European standards and practices of central banking.

The program is implemented by the Deutsche Bundesbank, in cooperation with 19 national central banks of the European system and with the European Central Bank. In addition to Albania, the beneficiaries are also the central banks and supervisory authorities of Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia. The program is financed by the EU with 3 million euros through the Instrument for Pre-Accession Assistance IPA III.

The opening of the third phase took place at the premises of the Banca d’Italia, where representatives of the partner institutions participated, while the European Commission was represented by Giulio Venneri.

Over the next 36 months, regional training and high-level meetings will be held on central banking and financial supervision issues, including the prevention of money laundering and terrorist financing, cyber risks, digital transformation, data management, and the use of artificial intelligence in central banks.

Through participation in this program, the Bank of Albania aims to further strengthen its institutional capacities and advance its approximation to European standards within the framework of the European integration process.