Bank of Albania and the European Bank for Reconstruction and Development review cooperation on payment modernisation and resolution framework work including MREL

The Bank of Albania reported on a meeting between Governor Gent Sejko and a European Bank for Reconstruction and Development (EBRD) delegation to discuss Albania’s economic and financial developments and ongoing technical cooperation. The update highlighted the central bank’s work to modernise payment infrastructure and implement technological and regulatory innovations aimed at a safer, faster and more standardised financial system. The discussion referenced EBRD-supported projects, including work on the regulatory infrastructure for managing climate change impacts and initiatives to strengthen the Bank of Albania’s technical and regulatory capacity in supervision and resolution. Specific deliverables cited included a self-assessment to verify equivalence of the Bank of Albania’s supervisory and regulatory framework with that of the European Union, and a regional assessment of resolution frameworks focused on minimum requirement for own funds and eligible liabilities (MREL) and the development of methodology for a resolution instrument. The parties also noted the need to enhance financial support for small and medium-sized enterprises, pointing to a special programme recently approved by the Bank of Albania, and linked payment-system modernisation and digitalisation to greater formalisation and improved access to finance for less-financed sectors. EBRD representatives signalled readiness to expand collaboration into additional areas and reiterated continued support focused on helping Albanian businesses become greener and more digital and on strengthening new entrepreneurs.