Albania Adopts Memorandum for Promotion of Foreign Investment

Albania has adopted, in principle, a memorandum of understanding with the International Financial Corporation (IFC) to launch the "Advisory Service for Foreign Investments" project with support from the International Monetary Fund (IMF) and the World Bank. A study conducted with international donors would assess administrative barriers to investors and offer legislative amendments to improve the business climate. The government says promoting foreign investment is an economic priority. Also in Tirana, officials at a workshop organized by the World Bank commended the government for signing the first comprehensive Growth and Poverty Reduction Strategy in southeastern Europe and Central Asia. The World Bank program will focus on infrastructure and social safety nets in rural areas. (Source: Balkan Times)