The Bank of Albania signed a cooperation agreement with the European Investment Bank (EIB) under the EIB Green Finance Systems Program to develop green finance in Albania and strengthen financial-system resilience by embedding climate risks into the regulatory framework and supporting alignment with European Union standards. Workstreams under the program include developing a national green taxonomy to classify climate-resilient economic activities, supporting banks’ mobilisation of funding for green projects, and building capacity across the financial sector to manage climate risks and implement international sustainable finance practices. The Bank of Albania linked the initiative to its recent supervisory work on climate risk, including analysis of banks’ exposure to climate risks and the drafting of a Climate Risk Management Guide for banks.
Bank of Albania 2025-01-23
Bank of Albania signs cooperation agreement with the European Investment Bank to develop green finance and integrate climate risks into supervision
The Bank of Albania signed a cooperation agreement with the European Investment Bank under the EIB Green Finance Systems Program to advance green finance and enhance financial-system resilience in Albania. The initiative includes developing a national green taxonomy, supporting banks in funding green projects, and building capacity to manage climate risks. This aligns with the Bank's recent supervisory efforts, including a Climate Risk Management Guide for banks.