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Ibrahimaj: Development Bank, assistance in distributing EU funds
2025-03-17 13:34:41 / POLITIKË
The Minister of State for Entrepreneurship and Business Climate, Delina Ibrahimaj, said that, "The Albanian Development Bank will be a sustainable mechanism for financing strategic sectors of the country's economic development."
Speaking at the plenary session of the Parliament during the discussion of the draft law "On the Albanian Development Bank", Ibrahimaj said that the Albanian economy has already entered a phase of positive growth in all its financial indicators.
"Gross Domestic Product has increased to 25 billion euros in 2024.
Per capita income has tripled from 3,324 euros to 10,334 euros and economic growth is 3.4%, indicating a continuation of the upward trend in the future.
The labor market has seen significant improvements in terms of reducing unemployment and increasing employment.
The increase in wages has been another factor that has positively impacted the economy and the income of the population, while the minimum wage has increased from 157 euros to 400 euros, public debt has been reduced from 70.4% to 54.7%, easing the fiscal burden and saving 300 million euros per year in the state budget.
Exports have also tripled in a decade, reaching 9 billion euros in 2024.
Public investments have played an important role in economic development, ranging from 5.1 to 7.8% of GDP.
"While total deposits have reached 1.36 trillion lek," said Ibrahimaj.
She stressed that "the creation of such an institution could help in the effective absorption and distribution of EU funds, ensuring that investments are directed to long-term growth projects."
"Today we are facing a historic moment in EU membership and there will be funds available and there must be institutions that have the ability to absorb these funds," the minister said.
Ibrahimaj emphasized that the main goal of this bank is to promote the country's economic development by facilitating access to finance for underfunded sectors by supporting infrastructure development, exports, and strategic projects for the economy.
“The capital structure is designed to ensure long-term sustainability.
The state will own a minimum of 51 percent of the shares, maintaining public control, while international and domestic financial institutions can contribute capital.
"The bank will provide financing through partnerships such as the European Development Bank or member countries," Ibrahimaj said.
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