Minister Malaj participates in the National Climate Finance Conference!
The Minister of Finance, Petrit Malaj, participated today in the National Climate Finance Conference, organized by the Ministry of Environment, with the aim of discussing strategies for mobilizing climate funds in the country, within the framework of the EU Green Deal and the Western Balkans Green Program.
In his discussion, Minister Malaj focused on our country's economic stability and readiness for climate finance, emphasizing that climate finance is not just a technical or development issue, but a global challenge related to trust in institutions, economic governance, and long-term commitment.
Albania, Malaj said, has taken important steps in this direction, through sustainable macro-fiscal consolidation, structural reforms and institutional strengthening.
Climate finance partners, Malaj said, need assurance that their resources will be managed responsibly and that projects will translate into measurable climate impact, and Albania offers precisely this assurance.
"We are strengthening our fiscal sustainability. We are expanding the portfolio of green public investments. We are adopting climate legislation harmonized with the EU and preparing for carbon pricing mechanisms. And we are working closely with the European Union, the World Bank, the EIB, the EBRD and other partners to ensure that our reforms are coherent, credible and anchored in long-term economic transformation," Malaj said.
The Minister emphasized the fact that Albania has demonstrated extraordinary economic resilience over the last decade and despite a series of external shocks, our economy has not only faced these challenges, but has emerged stronger.
"In 2025, Albania's GDP growth reached around 4%, ranking us among the fastest growing economies in the Western Balkans and Europe. What matters to climate finance partners is the quality and sustainability of this growth," said Mr. Malaj, adding that the improvement in the sovereign credit rating by international agencies Standard & Poor's and Moody's is a clear indicator of the markets' confidence in the country's economic management.
Albania has systematically rebuilt the fiscal framework, continued Mr. Malaj, through fiscal rules that have resulted in the gradual reduction of public debt, which is expected to drop to around 53% of GDP by the end of 2025.
This fiscal discipline, according to the Minister, makes strategic climate investment possible because by maintaining fiscal sustainability, the fiscal space necessary for co-financing climate projects, for providing sovereign guarantees when appropriate, and for coping with the fiscal risks that inevitably accompany large-scale infrastructure investments is protected.
The Minister underlined that fiscal policy in the country is harmonized with climate objectives through concrete measures, such as:
the implementation and gradual increase of the carbon tax on coal, in accordance with EU directives;
improving fiscal management of the energy sector and directing subsidies towards energy efficiency and renewable sources;
integrating climate considerations into public investments and medium-term budgeting;
advancing green budgeting practices and preparing for EU fiscal governance requirements.
The Minister informed that, based on the Instruction "On standard procedures for preparing the Medium-Term Budget Program", during Phase II of the MTBP 2026–2028, 14 budget programs have been identified that effectively integrate climate change considerations into their requirements.
Also, according to Malaj, Albania has made significant progress in the regulatory framework for climate finance. The adoption of Albania's Reform Agenda under the EU Growth Plan, in October 2024, has unlocked a financing package of 922.1 million euros for the period 2024–2027, with the green transition being one of the main pillars of this agenda.
The reforms undertaken, said the Minister, will strengthen the regulatory foundations for climate investments in several sectors, while mentioning the fact that our regulatory and institutional framework for climate investments has been developed in close partnership with international institutions, such as the European Union, the World Bank, the EIB and the EBRD.
In conclusion, Minister Malaj emphasized that Albania sees the partnership in climate finance as a mutual process, bringing macroeconomic stability, political commitment and a clear reform agenda. He expressed the readiness of the Ministry of Finance to continue cooperation with international partners, with the aim of transforming climate commitments into concrete results with long-term impact.
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