The Albanian Parliament approved on Monday the draft law “On the Albanian Development Bank”.

During her speech at the Parliament, the Minister of State for Entrepreneurship and Business Climate, Delina Ibrahimaj, said that the Albanian Development Bank will be a sustainable mechanism for financing strategic sectors of the country’s economic development.

Ibrahimaj also said that the Albanian economy has already entered a phase of positive growth in all its financial indicators.

“Gross Domestic Product has increased to Euro 25 billion in 2024. Per capita income has tripled to Euro 10,334 and economic growth marks 3.4%, leaving a continuation of the upward trend in the future. The labor market has seen significant improvements in terms of reducing unemployment and increasing employment. The increase in wages has been another factor that has positively affected the economy and the income of the population, while the minimum wage has increased to Euro 400, public debt has been reduced from 70.4% to 54.7%, easing the fiscal burden and saving Euro 300 million per year in the state budget. Exports have also tripled in a decade, reaching Euro 9 billion in 2024. Public investments have played an important role in the development of the economy, ranging from 5.1% to 7.8% of GDP. While total deposits have reached Lek 1.36 trillion,” said Ibrahimaj.

She emphasized that “the creation of the Albanian Development Bank can help in the effective absorption and distribution of EU funds, ensuring that investments are directed to long-term growth projects”.

“Today we are facing a historic moment in EU membership and there will be funds available and there must be institutions that can absorb these funds,” said the minister.

Ibrahimaj stressed that the main goal of the bank is to promote the country's economic development by facilitating access to finance for under-financed sectors by supporting infrastructure development, exports, and strategic projects for the economy.

“The capital structure is designed to ensure long-term sustainability. The state will own a minimum of 51 percent of the shares while maintaining public control, while international and domestic financial institutions can contribute to the capital. The bank will provide financing through financing through partnerships such as the European Development Bank or member countries,” said Ibrahimaj.