On 21 November 2024, the European Payments Council (EPC) officially admitted Albania (and Montenegro) to the SEPA scheme after having welcomed the membership application submitted on June 13. Albania, Montenegro and North Macedonia are the first countries in the Western Balkans to apply to join the Single Euro Payments Area. Currently, transactions in Albania are […]
Albania officially joins the SEPA scheme Read More »
The latest report from the European Commission (EC) highlights the growth trend of the Albanian economy in the first half of 2024, with an increase in real gross domestic product (+ 4.1%). Next year economic growth is expected to be 3.8%, supported by tourism, private consumption, strong credit growth and stable financial conditions. Inflation has
EC report: the Albanian economy is expected to continue growing Read More »
This year, Albania will benefit from the first funds of the Growth Plan for the Western Balkans that the European Commission (EC) approved on 8 November 2023. The total value is six billion euros, two of which will be disbursed in the form of grants, while the remaining four in the form of loans. The
EC: first funds from the EU Growth Plan for the Western Balkans Read More »
Albania’s goal is ambitious: to join the European Union by 2030. “It is a mountain to climb,” said Albanian Prime Minister Edi Rama, who attended the second intergovernmental conference with EU partners in Luxembourg on October 15. Rama added that Albania is “already walking with very clear ideas, a very strong will and without any
Albania’s EU accession negotiations officially launched Read More »
Agriculture is the main economic sector of Albania, contributing 20% to the gross domestic product. The government provides financial support through the IPARD III programme, which provides EU funds totalling EUR 146 million over the period 2021-2027 for the development of rural areas and agri-food sectors in the candidate countries for the EU accession, as
The European Union has given Albania a grant of 136 million euros for the reconstruction of the Vorë-Hani i Hoti railway line, on the border with Montenegro. This is the highest funding since Brussels decided to support investment projects in Albania. The European institutions have allocated a total of over 200 million euros for the
EU provides the largest grant for infrastructure investments in Albania Read More »
On 12 June 2024, Albania officially submitted the application to join the Single Euro Payments Area (SEPA). It is the first country in the Western Balkans to request inclusion in the SEPA payment system. As the governor of the Bank of Albania Gent Sejko explained, with the SEPA system international payments can be made in
Albania submitted official application to join the SEPA system Read More »
The European Council approved the Growth Plan for the Western Balkans, which provides for the allocation of six billion euros – two billion euros in grants and four in subsidized loans – to support the economies of the six countries of the region. The first payments, based on GDP and population, could be disbursed by
Albania will join EU Single Market thanks to an agreement that has already been ratified and will soon come into force. The European Commission will announce every year by April a request for funding for Albania which will allow small and medium-sized enterprises and non-profit organizations to benefit from funding for their development. The “Single
European common market: funds for one billion euros to support Albanian SMEs Read More »
Albania is ready to comply with EU legislation regarding SEPA transactions, as declared by Finance Minister Ervin Mete during the meeting with his counterparts and the Governors of the Central Banks of the Western Balkans. The meeting took place in Tirana ahead of the Western Balkans and Union leaders’ summit for the European Commission’s (EC)
Albania is ready to join the Single Euro Payments Area SEPA Read More »