Climate change adaptation financing - 4 sources to find 9.1 billion USD, from budget to PPPs and green bond
While the National Climate Change Adaptation Plan 2026–2036 requires 9.8 billion USD in interventions, while the financial gap reaches 9.1 billion USD, the draft released for public consultation envisages a number of forms for finding financing, combining domestic resources with international funds and private capital. According to the document, by 2030 at least 20% of the necessary funds should be mobilized from the state budget, while ministries will have to show how their medium-term budget programs support adaptation objectives. For the first time, the country is expected to implement Climate Budget Labeling, a system that tracks public spending related to adaptation and turns green budgeting into a standard policy-making process.
At the same time, Albania aims to expand access to international climate finance, through partnerships with the Green Climate Fund, the Global Environment Facility, the Adaptation Fund, and the European Union's IPA programs.
Meanwhile, a significant portion of financing is also expected to come from the private sector. The government plans to promote the use of Public-Private Partnerships, as well as develop insurance instruments for climate risks, including agriculture and vulnerable sectors.
In the area of financial innovation, Albania is working on a feasibility study for the first national green bond, scheduled for 2026, as well as on the creation of a regional climate risk insurance structure. These instruments aim to diversify financing sources and increase the country's fiscal resilience to extreme weather events.
The National Climate Change Adaptation Plan 2026–2036 is a strategic document that aims to increase the country's ability to cope with climate risks and their economic and social consequences.
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