staff of the brbnmpl, other dignitaries and each and every one of you who have honoured us by gracing this historical occasion. 4. the banknote paper mill is a joint venture between the brbnmpl and the spmcil. security printing & minting corporation of india ltd. ( spmcil ), a wholly owned company of the government of india, was incorporated in january 2006 and represented the corporatisation of all the security printing and minting activities that were being done departmentally. bharatiya reserve bank note mudran private limited ( brbnmpl ) was established by reserve bank of india as its wholly owned subsidiary on 3rd february 1995 for undertaking the production of bank notes in india. 5. there are several advantages in this paper mill being set up in the premises of the brbnmpl ’ s press. besides adequate land, basic infrastructure and surplus residential quarters are already available in the brbnmpl ’ s premises. cotton, which is the principal raw material is available nearby from and around coimbatore. 6. going ahead, we are targeting to commission the first line with 6000 mt capacity by the latter part of 2012 and eventually achieve full capacity of 12000 mt in another year or so. the estimated pay back period is 4 / 5 years. with the cooperation of the centre and state government and others concerned, we are confident that these milestones can be achieved. 7. today, i would like to recount the reassuring response of shri pranab mukherjee to a query in an interview 1 he had with “ the tribune ” some years ago. on being asked as to what have been our ( india ’ s ) strong points, shri mukherjee replied : “ we have built up a huge infrastructure, industrial and human. we have the largest number of technically and technologically competent personnel. we have the third largest reservoir of human talent in the world. in purchasing power parity we have the fifth largest economy … ” we are encouraged and inspired by your confidence in the nation ’ s capabilities. we assure you sir, this mill, the foundation stone of which you are laying today will live up to your expectations. with these words, i once again extend a warm welcome to the hon ’ ble finance minister and to each one of you and seek your blessings for the success of this project. thank you. http : / / www. tribuneindia. com / 50yrs / pranab. htm.

gent sejko : albania's economic and financial developments in 2020 address by mr gent sejko, governor of the bank of albania, presenting the annual report 2020 to the parliamentary committee on economy and finance, tirana, 20 april 2021. * * * honourable chair, honourable members of the committee, thank you for the invitation and the opportunity to present to the committee, the annual report 2020 of the bank of albania! the report presents the contribution of the bank of albania to preserving the monetary and financial stability of albania – such a valuable achievement in the view of unprecedented challenges we have been facing throughout the previous year – and the measures we have taken in fulfilling our legal and institutional duties and commitments. the covid - 19 pandemic and the necessary measures taken to control it strongly hit the albanian economy. it caused a negative impact on : the volume of economic activity ; employment ; the financial situation of households and enterprises ; and on the domestic and foreign equilibriums of albania. in coordination with fiscal stimulus, the bank of albania implemented a complete package of macro - prudential, operational and monetary measures, which were aimed at preserving liquidity in financial markets, reducing borrowing costs, continuation of lending and maintaining uninterrupted flow of financial services. through these measures, the bank of albania enabled : the reduction of crisis financial cost to households and enterprises ; the avoidance of its transmission into the financial sector ; and the preservation of a calm monetary and financial environment, by establishing the premises for a faster recovery with the normalisation of the situation. hence, the impact of crisis on the economy was lower than expected, by showing both the positive effect of measures taken by public authorities and the flexibility and resilience of our economy and financial system. our forecasts show the albanian economy will turn towards recovery during 2021 with the gradual reduction of the negative impact of pandemic. the volume of economic activity is expected to shift on an upward trajectory in the medium and long term, underpinned by the favourable financing conditions, the reduction of uncertainties and the progressive recovery of both domestic and foreign demands. nevertheless, the guaranteeing of stable economic growth and the management of many - downside risks would call for ongoing attention and prudence. dear ladies and gentlemen, following, i will detail the directions and main results of our work over 2020. * * * 1. economic performance, price stability and the reaction of the bank of albania 2020 was a hard and challenging year, marked by the