TIRANA, June 3 – Finance Minister Petrit Malaj outlined plans for the Albanian Development Bank after a government meeting. The new financial institution will support strategic sectors of the economy and key development projects.
Malaj said the bank will start with an initial capital of €100 million. He added that it could generate financing ranging from €500 million to €1 billion.
According to the minister, the institution will focus on sectors that face difficulties in securing funding. It will also support strategic government projects. In addition, the bank aims to address financing gaps in the Albanian market.
Priority sectors include agriculture and agro-processing. The bank will also support strategic infrastructure projects. Meanwhile, social housing will remain among its key areas of activity. Funding will further target innovation and digitalisation. In addition, the institution will back projects that improve energy efficiency.
Malaj said the Albanian Development Bank will add value to the country’s financial sector. He noted that the institution will provide financing for sectors with limited access to funding or insufficient support from the banking market.
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