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.
Policy & regulationCooperationClimate risk and sustainable finance
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.
The Bank of Albania and the European Investment Bank held a workshop on developing an Albanian National Green Taxonomy, focusing on governance, EU interoperability, and sustainable investment classification. Discussions emphasized coordinated efforts among public authorities, banks, civil society, and international partners. The European…
The Bank of Albania, in cooperation with the European Investment Bank, held a technical and inter-institutional workshop to present the first draft of Albania’s Green Taxonomy and collect feedback to support its finalisation and implementation. The draft taxonomy aims to enhance market transparency, direct finance towards sustainable economic…
Bank of Albania Second Deputy Governor Natasha Ahmetaj called on banks and businesses to adapt to climate risks and European sustainability requirements. She highlighted banks’ role in directing capital toward sustainable activities and reviewed ongoing work with the European Investment Bank on an Albanian Green Taxonomy based on European…