Albania-Finland to Boost Cooperation in Banking and Economic Sectors

Albania-Finland to Boost Cooperation in Banking and Economic Sectors

TIRANA, July 22

Structural reforms are needed in order to attract more foreign investors in Albania. Governor of the Bank of Albania (BoA) Gent Sejko said this during a meeting that he held on Friday with Ambassador of Finland to Albania (resident in Athens) Pauli Makela.
Governor Sejko presented an overview of financial developments in Albania, highlighting that the Albanian banking system is well capitalized, liquid and financially sound. Governor Sejko added that the Bank of Albania will continue to be committed to fulfilling its mission for price stability and financial stability in Albania.
Further on, Sejko stressed BoA’s commitment to support economic growth in Albania through an accommodative monetary policy stance.
Sejko and Ambassador Makela discussed, among others, on stirring the interest for enhanced economic cooperation and considering the possibilities for promoting foreign direct investments in Albania. In this context, Governor Sejko pointed out that the continuation of structural reforms is highly important. These reforms would contribute to further improving the business climate and accelerating economic development in Albania.
Ambassador Makela praised BoA for its work in safeguarding and guaranteeing the country’s financial stability.
The important contribution of the Bank of Albania, in view of Albania’s EU integration process by approximating the regulatory framework and work practices with EU Directives, was also underlined in the meeting.
Both Governor Sejko and Ambassador Makela agreed on the perspectives of further enhancing the economic cooperation between the two countries, mainly in aspects related to the financial system.

News Source/ Photo Credit: BoA


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