related risks. in our medium - term development strategy 2022 - 2024 we have decided to monitor climate risks to the economic and financial environment, where bank of albania conducts its activity. also, we have cooperated with finsac ( of the world bank ) in drafting a multi - year green strategy, which was approved in may 2023 by the supervisory council of the bank of albania. 2 / 3 bis - central bankers'speeches as the governor of the bank of albania, i appreciate the importance of discussion, cooperation and support at international level to address the challenges triggered by climate change and the transition to a sustainable economy. for this reason, we have developed various national, regional and international partnerships to assess and manage the economic and financial impact of climate change. in this context, i appreciate our cooperation with the cef, our membership since 2020 in the ngfs ( network for greening the financial system ), as well as the various collaborations with the state secretariat for economic affairs of the swiss government ( seco ), vienna initiative, the world bank ( finsac ), and many others. ladies and gentlemen, recently, the challenges we have dealt with are numerous, complex and multidimensional, often interconnected with each other. i know that the change will not happen overnight, but let us be optimistic. today, starting this high level conference, i want to emphasise the importance of green finance as a response to the global challenge of climate change, in turn as an instrument for guaranteeing both the macroeconomic and financial stability. one thing is certain : the costs or damage of inaction will be far greater than the costs that will come from taking measures to minimize future risks. in this view, we need strong policies, cooperation and innovation. working together, we can share experiences and build a better and sustainable future for all. financial system has a key role to play in this process. with a responsibility to future generations, let's commit today to have a positive impact on the future of our countries and planet. keep in mind that what we choose to finance today will shape the future of our planet. thank you for your attention! 3 / 3 bis - central bankers'speeches

gent sejko : albania's economic and financial developments in 2018 address by mr gent sejko, governor of the bank of albania, presenting the annual report 2017 to the assembly of the republic of albania, tirana, 8 may 2019. * * * honourable speaker, honourable members of parliament, the bank of albania pays particular attention to fostering institutional relations with the assembly of the republic of albania, based on the spirit of accountability and transparency, and nourished by a constant and reciprocal dialogue. in this light, i thank you for the invitation and the opportunity to present in a plenary session to the assembly, the main conclusions of the annual report of the bank of albania. let me start by emphasising that the bank of albania has made progress with regard to all the three underlying aspects of our work : institutional objectives and duties set out in the legal and sublegal framework ; internal objectives set out in our medium - term development strategy ; and, recommendations left by the assembly of the republic of albania in the resolution “ on the assessment of the activity of the bank of albania for 2017 ”. the bank of albania estimates that, in 2018, the albanian economy and financial system made progress. economic activity and employment continued to expand, wages and domestic inflationary pressures trended upward, main banking sector ’ s soundness indicators improved, and a series of indicators of domestic and external economic balances strengthened. let me present a few indicators to illustrate this. according to instat data, the pace of economic growth accelerated to 4. 1 % in 2018. economic growth was broad based ; it reflected positive contributions from the expansion of households ’ consumption, enterprises ’ investments, and exports. according to instat data, employment in the economy rose by 1. 6 %, whereas the unemployment rate at the end of the year fell to 12. 3 % from 13. 4 % a year earlier. the external position of the economy improved : the current account deficit declined at 6. 7 % of the gdp in 2018, and the indicators of external debt stability strengthened. budget deficit and public debt continued on a downward trend, reflecting the consolidation path of the fiscal policy, the economic growth and the exchange rate appreciation. the main indicators of banking sector soundness – in particular liquidity, profitability and capitalisation – remained at satisfactory levels. this dynamics of developments reflects, to a significant extent, the effect of policies, measures and instruments the bank of albania has adopted on continuous basis. in the