The World Bank's Board of Executive Directors approved the Second Sustainability and Green Development Policy Program (DPL), with a financing of $120 million to strengthen fiscal sustainability and promote sustainable development in Albania.

This is the second financing in a two-phase series that helps Albania improve fiscal and environmental sustainability.

The WB announces that the new Program will support Albania in three main areas of reforms, which aim to: Strengthen fiscal space, including improving tax administration and reporting by state-owned enterprises on potential social and environmental risks, expand the energy market, promoting renewable sources and increasing energy efficiency, and protect the environment and reduce carbon emissions.

This program is in line with the Country Partnership Framework for the period 2023-2027, which reinforces the World Bank's commitment to Albania's sustainable development and improving the quality of life for its citizens.

"This financing will help the country address key challenges in the energy sector as well as increase the government's ability to manage fiscal risks and better support vulnerable segments of the population," he stressed, ATSH reports, KosovaPress reports.

"The program reflects Albania's aspirations for membership in the European Union, the Economic Reform Program 2024-2026 and the country's international climate commitments. Key measures include strengthening fiscal sustainability, improving the social assistance system and promoting reforms in the energy sector. Albania's macroeconomic policy framework remains stable, characterized by a manageable fiscal deficit, declining public debt, a stable monetary policy supported by prudent measures and surveillance," the WB emphasizes in the press release published on the WB's official website.