EBRD and BoA present the 2024-25 Transition Report on industrial policy!
The European Bank for Reconstruction and Development (EBRD) Transition Report 2024-2025, regarding industrial policy, was presented today.
The main findings of the report were presented by the Governor of the Bank of Albania, Gent Sejko, the Director of the EBRD Office in Albania, Ekaterina Solovova, and the Associate Director at the EBRD, Zsoka Koczan.
Sejko stated that this report provides an in-depth analysis of the reformulation of industrial policy in a global context.
"This report highlights the revival of industrial policies. The reforms undertaken have increased employment and the economy, but today they are not enough, as the geopolitical context has also changed. Many economies, including ours, are facing demographic and employment changes. The sectors of the future must be encouraged. The path through growth with traditional exports has become more difficult. A new opportunity is the export of digitalized services, but for this we must invest in education and technology.
"Some countries are leading exporters of computer services and Albania is on this path. Industrial policies should not only include sectors that can give us global profit, but also those that promote employment and social cohesion. State aid should focus on high-potential firms. Let's design smart and comprehensive industrial policies. We should not focus only on sectors, but also on strengthening human resources."
Solovova said that “in 2024, the EBRD has provided a high level of financing. Our Board approved the Strategy for Albania with 900 million euros of financing and aims to support Albania on its path to the EU. We will support Albania in expanding renewable energy sources, as well as in expanding energy transmission and distribution networks.
We aim to strengthen economic governance, improve the business climate and further develop infrastructure in Albania.”
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