Albania has officially added a new financial institution aimed at supporting the financing of key economic sectors and accepting savings from citizens.
The newly established Albanian Development Bank has been formalized in the country’s Official Gazette.
According to the official documentation, the Albanian Development Bank will carry out the following activities:
- Development-focused financing, including:
- Loans for small and medium-sized enterprises (SMEs) and local startups
- Loans and support for the export of domestic goods and services
- Loans for public projects at the national and local levels, prioritizing those that benefit the national economy
- Loans for the development, improvement, and modernization of the country’s physical and digital infrastructure
The state will be the main shareholder, holding 51% of the bank’s shares.
The bank will be launched with an initial capital of 10 billion ALL (approx. €95 million), fully contributed by the Albanian government. This capital will be paid in installments over a 4-year period, with the first installment of 1 billion ALL to be paid by 2026.
The Albanian Development Bank will be allowed to open, manage, and maintain bank accounts within the State Treasury, the Bank of Albania, as well as domestic and international banks.
For statistical and credit registry purposes, the bank will report to the Bank of Albania, and later also to the Parliamentary Committee on Economy.
