The promotion of a more integrated and supportive financial system for sustainable economic growth in Central, Eastern, and South-Eastern Europe (CESEE) was at the heart of the Annual Forum of the Vienna Initiative, held recently in Brussels. This high-level platform, organized by the European Commission, gathered central bankers, financial regulators, and key industry stakeholders from across the region.
Representing Albania, Deputy Governor of the Bank of Albania, Natasha Ahmetaj, participated alongside other leading figures in the region’s financial sector. The discussions focused on enhancing regional cooperation, improving capital markets, and boosting cross-border financial efficiency to drive long-term economic development.
The European “Union of Savings and Investments” Project
At the center of the forum’s agenda was the European project titled “Union of Savings and Investments”, a major initiative aimed at mobilizing citizens’ savings and channeling them into productive investments. The project seeks to foster inclusive economic growth and reduce regional disparities by ensuring that private capital actively contributes to development.
This initiative represents a fundamental shift in Europe’s financial thinking — moving from reliance on traditional bank lending toward diversified capital market financing. Such a transformation is especially critical for the CESEE region, where investment levels have remained subdued since the global financial crisis.
Challenges and Opportunities in the CESEE Region
Forum participants highlighted a number of structural challenges that have limited financial expansion and investment performance in recent years. Among these were:
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Weak post-crisis investment dynamics, particularly in infrastructure and innovation sectors.
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Limited depth of local capital markets, restricting businesses’ access to long-term financing.
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High dependency on banking systems for credit, which exposes economies to systemic risks.
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Need for improved financial supervision and investor confidence to attract foreign capital.
The discussions underscored the importance of regional cooperation to overcome these barriers, improve transparency, and establish unified regulatory standards. Strengthening domestic capital markets and encouraging cross-border investment were seen as key steps toward achieving a stable, growth-oriented financial ecosystem.
Albania’s Strategic Step: Joining SEPA in 2025
A particularly important topic at this year’s forum was the expansion of the Single Euro Payments Area (SEPA) — a unified system that allows seamless euro transfers across participating countries.
In this context, it was officially confirmed that Albania will become a member of SEPA on October 7, 2025. This marks a historic milestone for the country’s financial sector, aligning it more closely with European payment standards and enabling:
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Faster and cheaper euro transfers between Albania and other European countries.
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Increased efficiency for businesses engaged in cross-border trade and e-commerce.
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Enhanced transparency and security in financial transactions.
For citizens and companies alike, SEPA membership means easier access to European markets and reduced transaction costs — a crucial step in modernizing Albania’s banking infrastructure.
Bank of Albania’s Commitment to Regional Financial Integration
Speaking on behalf of the Bank of Albania, Deputy Governor Natasha Ahmetaj reaffirmed the institution’s dedication to deepening regional financial cooperation and fostering market development.
Ahmetaj emphasized that Albania’s participation in SEPA and its engagement in European financial initiatives are part of a broader vision to:
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Expand access to finance for businesses and households.
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Support the creation of domestic capital instruments.
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Encourage innovation and digital transformation in the financial sector.
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Strengthen the overall resilience of the national economy.
Her remarks reflected Albania’s ongoing efforts to bring its financial legislation and infrastructure in line with European Union standards, positioning the country as a proactive player in the region’s economic future.
A Platform for Shared Vision and Sustainable Growth
The Vienna Initiative Forum continues to serve as a strategic meeting point for policymakers, regulators, and financial institutions. Through this collaborative setting, participants exchange experiences, policies, and concrete strategies to build a more stable, inclusive, and growth-oriented regional economy.
For Albania, the 2025 SEPA integration and its active participation in the Vienna Initiative reflect a clear commitment to European convergence — not only in banking operations but also in economic governance and market transparency.
As the region moves toward greater financial unity, Albania’s progress signals an important chapter in its ongoing journey toward EU financial and economic integration, reinforcing its role as a bridge between the Western Balkans and the broader European financial landscape.