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World Bank aims at reducing poverty, promoting prosperity in Albania

TIRANA, May 26 (Xinhua) -- The World Bank on Tuesday published a strategy report for Albania, stressing the priorities of the bank's program are reinstatement of macroeconomic balances, creating conditions for accelerating private sector growth, strengthening private sector management and service delivery in Albania.

The program of the World Bank Group (WBG) for Albania for fiscal years 2015 to 2019 aims to support the aspirations of Albania to have equal growth and integration into the European Union. The program will be achieved by focusing on the twin objectives of reducing poverty and promoting common prosperity.

The report indicated that Albania is still one of the poorest countries in Europe, and Kukes is the poorest district in Albania, in which 22 percent of the population lives below the poverty level.

The report praised the reforms made by the government in the past 18 months. However, it identifies the key challenges of returning the fiscal balance and maintaining financial stability, which is further aggravated by significant risks in the energy sector.

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