World Bank Approves $120 Million to Support Reforms in Albania

The World Bank’s Board of Executive Directors has approved the Second Resilience and Green Growth Development Policy Program (DPL), allocating $120 million to strengthen fiscal resilience and promote sustainable development in Albania. 

This is the second phase of a two-part financing initiative designed to enhance the country’s fiscal and environmental stability. 

According to the World Bank, the program will support Albania in three key reform areas: 

-Strengthening fiscal resilience, including improving tax administration and increasing transparency in state-owned enterprises regarding social and environmental risks. 

-Expanding the energy market, by promoting renewable energy sources and boosting energy efficiency. 

-Enhancing environmental protection, with a focus on reducing carbon emissions. 

The program aligns with the Country Partnership Framework for 2023-2027, reaffirming the World Bank’s commitment to Albania’s sustainable development and improving citizens’ quality of life. 

“The reform package supported by this program aims to strengthen Albania’s development prospects,” said Richard Record, Acting World Bank Country Manager for Albania. 

“This financing will help the country address key challenges in the energy sector, enhance the government’s capacity to manage fiscal risks, and provide better support for vulnerable populations,” he added. 

The program reflects Albania’s aspirations for EU membership, its 2024-2026 Economic Reform Program, and its international climate commitments. Key measures focus on reinforcing fiscal sustainability, improving the social assistance system, and advancing energy sector reforms. 

The World Bank noted that Albania’s macroeconomic policy framework remains stable, characterized by a manageable fiscal deficit, declining public debt, and a prudent monetary policy backed by careful oversight.

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