In late March, a group of Executive Directors, members of the Board of the World Bank Group, visited Albania with the purpose to assess the Bank Group’s engagement in the energy sector and efforts to support regional connectivity. Increasing regional cooperation and plans to improve connectivity within Western Balkans started in 2014 with support from the World Bank Group and the European Union.
During their visit, the WB Directors met with key Executives of the Albanian Government and discussed Albania’s progress and challenges in the energy sector and shared views on facilitating energy exchange through the establishment of organized electricity markets and the prospects for expanding regional integration. As well, it was discussed the impact of World Bank Group financed operations, like the Power Sector Recovery Program, on energy sector reforms within the Government’s broader structural reform agenda.
Part of the WB Executive Directors’ Agenda was a meeting with private sector’s representatives, where FIAA was represented by its Chairman, Mr. Pedrazzi. In the meeting it was discussed on challenges to a competitive and efficient energy sector and how the World Bank can assist in addressing these constraints.
The World Bank Group has a large lending and guarantee portfolio in Albania, including International Bank for Reconstruction and Development (IBRD) financing of US$615 million, an International Finance Corporation Portfolio of US$187 million, including funds mobilized from its partners, and a Multilateral Investment Guarantee Agency portfolio of US$214 million.