For the next two years, the Bank of Albania will be part of the technical assistance program prepared by the Deutsche Bundesbank (Central Bank of Germany) together with 17 national central banks of the European System of Central Banks (SEBQ) and the European Central Bank (ECB), central banks and financial institutions of the Western Balkan countries, potential candidates and potential candidates for membership of the European Union. This program will be implemented with funds allocated and monitored by the European Union under the Instrument for Pre-Accession Assistance (IPA II).
The Bank of Albania will receive technical assistance from the implementation of this program, together with the Central Bank of Bosnia and Herzegovina, the Banking Agency of the Federation of Bosnia and Herzegovina, the Banking Agency of the Republic of Serbia, Central Bank of the Republic of Kosovo, Montenegro, the National Bank of the Republic of Macedonia and the National Bank of Serbia.
This program aims at further strengthening the capacities of the beneficiary institutions, mainly through the further improvement of their analytical and political instruments through the acquisition of the best international and European standards in national practices.
At the first meeting of the Program Steering Committee held at the National Bank of Austria, the Program Manager for Deutsche Bundesbank, Martin Dinkelborg, said: “With this joint initiative, the central banking community in the EU is ready to strongly support our colleagues in the Western Balkans in their efforts to introduce the highest standards for the good of the countries and peoples of them. “
Ms. Doris Ritzberger-Grynvald, Director of the Department of Economic Analysis and Research at the National Bank of Austria, underlined the importance of the program for the region’s continued economic development. Further, she welcomed the collaborative approach taken by the 18 national central banks and the ECB through this program.
Mr. Andreas Papadhopoulos, Adviser for Economic Governance at the General Directorate of the European Commission for Neighborhood and Enlargement Negotiations, stated that: “The program aims at further improving economic governance in the Western Balkans and constitutes a long-term perspective in supporting their institutions for possible EU membership, in our case at the SEBQ. “
During the implementation of the program, the Deutsche Bundesbank, together with 17 national central banks and with the support of the European Central Bank, will organize an intensive regional training program on key central banking and oversight issues. More concretely, the program consists of 20 training activities, focused on banking supervision, financial stability, consumer protection and financial inclusion, bank recovery, monetary policy, payment systems, statistics, compliance and EU integration, governance policies , as well as internal audit accounting.
The program will be provided by experts from the national central banks of the ESCB and the ECB. At the same time, two policy-makers-level workshops are planned for the management level involved in dealing with non-performing loans and the governance of banks. In addition to regional training activities, the program will also fund some specific bilateral measures to be set out in further meetings of the Program Steering Committee.
In addition to the Central Bank of Germany and the European Central Bank, other European banks contributing to this program are: the National Bank of Austria, the National Bank of Belgium, the National Bank of Bulgaria, the Czech Central Bank, the Bank of France, the Bank of Greece, The Netherlands Bank, the National Bank of Hungary, the Bank of Italy, the National Bank of Croatia, the Bank of Lithuania, the National Bank of Poland, the Bank of Portugal, the National Bank of Romania, the Bank of Spain, the Slovak Bank and the National Bank of Slovenia.
News Source: BoA