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 Delegation to 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.