EBRD Asks Albanian Authorities to Improve the Business Climate

TIRANA, June 19

The European Bank for Reconstruction and Development (EBRD) requires from the Albanian authorities to improve the business environment and to concentrate investments in the power and infrastructure sectors. This was said during the meeting of the Albania Investment Council, where the legal frame on investments was discussed. Vice President of EBRD Alain Pilloux highlighted that the institution he represents seeks for facts on how things are done in Albania and at the same time to help boost the private sector growth.
He highlighted the importance of investment promotion and property rights.
“We must boost the private sector growth by supporting tourism and agrotourism,”Pilloux said.

In the meantime, he said that EBRD in cooperation with the European Union (EU) and the Albanian government are drafting an innovative program of investments with an estimated value of Euro 100 million. The program foresees support for local roads and water supply networks in areas with tourism potential and also funds for the conservation and restoration of natural and cultural heritage. Pilloux added that banks need to be encouraged to take more risk and lend in local currency while highlighting that EBRD will continue to support all the economic sectors.
“Keep working in the infrastructure and energy sectors,” Pilloux said.
On his part, Minister of Finances and Economy Arben Ahmetaj highlighted that the Albanian business climate is favorable for the Foreign Direct Investments (FDI). Moreover, he mentioned the facilities applied to businesses in some sectors and the new fiscal package.

News Source: Scan TV