Integration into the European System of Central Banks - BoA begins preparations. Beneficiary of the 3 million euro EU capacity building program
The Bank of Albania is preparing to become part of the European System of Central Banks. To this end, it will participate in the third phase of the “Programme for Strengthening the Capacities of Central Banks in the Western Balkans”, funded by the European Union, an initiative that aims to support the preparation of the central banks and supervisory authorities of the region for integration into the European System of Central Banks.
The aim of this program is to further strengthen the capacities of the Bank of Albania, mainly through further improvement of analytical and policy instruments, thanks to the adoption of the best international and European standards in national practices.
In addition to our Central Bank, the beneficiaries of this program are also central banks and supervisory authorities from Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia. The EU has financed this program with 3 million euros from the Instrument for Pre-Accession Assistance (IPA III).
Over the next 3 years, the German central bank, together with partner central banks and ECB experts, will organize an intensive regional training program on key issues of central banking and supervision. The main focus will be on new developments in central banking and financial supervision in the areas of money laundering prevention and combating the financing of terrorism, cyber risks, digital transformation, innovation and artificial intelligence in central banks. In addition, high-level meetings will be held on current topics of focus, such as central bank independence and new developments in payment systems.
By participating in this program, the Bank of Albania continues its efforts to align with European standards and practices, while contributing to the further strengthening of institutional capacities, within the framework of the European integration process.
The European System of Central Banks includes the European Central Bank and the national central banks of all EU member states, regardless of whether they have adopted the euro or not.
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