EBRD ‘Transition Report 2017-2018’ presented in Tirana

Tirana // 11 April 2018. The EBRD ‘Transition Report 2017-2018’  was presented also in Tirana. This is an annual publication on the progress of the reforms and economic development in 37 countries from Central Europe to Central Asia and South-East Mediterranean. Present in the presentation panel: Governor of Bank of Albania, Mr Gent Sejko, Head of EBRD RO, Mr Matteo Colangeli, as well as Deputy Director for Country Economics and Policy, Mr Peter Sanfey.

Governor of Bank of Albania, Mr Gent Sejko during the presentation of this report highlighted that there is a positive assessment of the developments in the region. In the report, it is assessed that TAP’s investment will have positive effects on the energy infrastructure of the country. However, the growth of productivity has slowed down and an important factor considered as one of the main issues which should be of a concern to our region is related to the dynamics of private companies, especially small ones. The report recommends that more should be done for their empowerment. 80% of businesses in the region are small and have a substantial weight in the GDP, employment etc. But they face difficulties in access to finance and support with policies.

The report highlights the fact that to sustain growth, the countries of the EBRD region should be able to complete their transition to sustainable market economies and this will not be easy. For this reason, it remains important to strengthen the institutions, support the firm dynamics and innovation, integrating of their firms into the global economy and investing in sustainable infrastructure.

Mr Matteo Colangeli said that EBRD has supported with funding especially the business. EBRD has an interest in financing the energy sector. “We will support the private entrepreneurship in the tourism sector. The agribusiness is also of interest and we are considering opportunities for funding,” said Mr Colangeli.

For more, read Transition Report 2017-18.