Draft law on the Albanian Development Bank/ SP in favor, DP against the initiative

2025-03-17 12:15:00, Politikë CNA

Draft law on the Albanian Development Bank/ SP in favor, DP against the

Today, in the scheduled session in the Assembly, the discussion continues on some of the issues of the day, among them the draft law for the establishment of the Albanian Development Bank. It seems that, from the discussions so far, the Socialist Party is in favor, while the Democratic Party is against the legal initiative.

The Minister of State for Entrepreneurship and Business Climate, Delina Ibrahimaj, in her speech emphasized that the main goal of the bank will be to promote the country's economic development, with a focus on underfunded sectors.

"The creation of such an institution could help in the effective absorption and distribution of EU funds, ensuring that investments are directed to long-term growth projects. Today we are facing a historic moment in EU membership and there will be funds available and there must be institutions that have the capacity to absorb these funds."

The main goal of this bank is to promote the country's economic development by facilitating access to finance for under-financed sectors by supporting infrastructure development, exports and strategic projects for the economy. The capital structure is designed to ensure long-term sustainability.

"The state will own a minimum of 51% of the shares, maintaining public control, while international and domestic financial institutions can contribute to the capital. The bank will secure financing through partnerships such as the European Development Bank or member countries," Ibrahimaj said.

On the other hand, the Democratic Party (DP) has spoken out against this draft law. MP Bujar Leskaj, in his speech in the Assembly, said that this project has a high risk of clientelism and endangers the state budget.

"A number of problems are evident for the stability of the banking market. The lack of a mechanism for controlling this project. Economically unsustainable projects that do not bring results in these areas. It could create an accumulated debt that could be a tax on Albanians to pay. Experience shows that it is the oligarchs who benefit from other businesses. The other is the creation of an economic crisis as a result of this.

There is also a high risk of clientelism. We have a bad practice and memory in this banking sector, the first 3 state-owned banks went bankrupt or were privatized. All three examples are negative in this regard. This also endangers the state budget at the same time and will weigh on the pockets of Albanians", said Leskaj. /CNA