The Modernization Program

The program consists of several projects that aim at fulfilling the European Central Bank financial modernization criteria:

  • Reducing asymmetric information;
  • Completing the market;
  • Increasing opportunities to engage in financial transactions;
  • Reducing transaction costs;
  • Increasing competition.
SPI Albania Mission
In Spring of 2008, Bank of Albania and Albanian Association of Banks launched a financial sector modernization program. The Program is placed under the oversight of a high-level committee  SPI Committee and orchestrated by a two-person SPI Secretariat, supported by the World Bank’s Convergence Program (Washington, Bucharest and Rome).
SPI News

  1 March 2010 -  Following up on the discussion during the SPI Committee meeting of 17 December 2009, the Executive Committee of the Albanian Banking Association opts out of the 2-year old public-private partnership despite request by public authorities to continue the activities.

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