
Albanian Development Bank/ Details of the draft law are revealed, the Albanian state will be the main shareholder, 100 million euros are allocated from the budget

After Prime Minister Rama announced the creation of the Albanian Development Bank, details of the draft law have been published.
The State Ministry for Entrepreneurship has submitted for public consultation the draft law for the establishment of the bank, which according to the draft has the main purpose of financing the country's economic growth through lending to sectors of the economy, mainly small and medium-sized enterprises, including microenterprises and start-ups, as well as supporting development projects related to the improvement and modernization of physical and digital infrastructure, with a special focus on green investments.
According to the draft law, the Albanian government will allocate 100 million euros of capital from the state budget to establish the Albanian Development Bank.
The Albanian State will be the main and initial shareholder of the Albanian Development Bank with a minimum participation of 51% of the capital. The Albanian Development Bank will be exempt from profit tax, to enable it to focus resources on achieving its development objectives.
In addition to the state pouring 100 million euros from the budget as capital into the bank, it will collect money from citizens who want to preserve their savings, according to the Italian model of postal savings books.
These savings instruments, which are issued by mail, have the main advantage of being 100 percent guaranteed by the state and, unlike deposits or accounts in private banks, have no commission costs.
The Albanian Development Bank (ADB) can raise funds through various mechanisms, including accepting repayable funds from the public and other financial instruments, guaranteed by the Albanian State.
A feature of this article is the cooperation with the Albanian Post Sh.a. or its affiliated companies. In this cooperation, the Albanian Post or its affiliated entities will play the role of intermediary between the BZH and the public wishing to benefit from the financial instruments issued by the BZH, ensuring easier and more effective access for citizens.
This draft law has been drafted in collaboration with the Bank of Italy, Cassa Depositi e Prestiti, which is expected to provide technical support for the further stages of the establishment and operation of the Albanian Development Bank. International experiences have shown that the creation of national development institutions such as the Albanian Development Bank, increase success in promoting economic development.

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