assist firms in adapting to the effects of climate change. as the financial sector is dominated by the banks, climate change may result in physical and transition risks that could affect the safety and soundness of individual banking institutions, and have broader financial stability implications for the banking system. banks are potentially exposed to climate - related financial risks regardless of their size, complexity or business model. to the central banks, regulatory authorities, financial institutions and other policymakers, has emerged the needs to take actions in response to those challenges. central bank of the republic of kosovo is committed to strengthening its efforts to improve the resilience of the financial system to climate - related and environmental risks. to address climate - related financial risks within the banking sector, the central bank of the republic of kosovo supported by the program of world bank / finsac has drafted a strategy and established a cross - sectorial working group to contribute to strengthen the regulation, supervision and practices of banks. actions by the central bank of the republic of kosovo to address climate and environmental risk will be toward strengthening regulatory framework toward eu regulations and directives, and basel standards, strengthening supervisory practices, encompassing the assessment and full understanding of the banks'exposure to climate risks using scenario analysis, and where applicable, stress testing. central bank of the republic of kosovo will work on building internal capacities, increasing the cooperation with domestic institutions, responsible for climate change mitigation and adaption, considering the international commitments of the republic of kosovo. to help the contribute to this direction, financial literacy and broader communication through participating in international conferences – like this today – workshops, forums for broadening the expertise and knowledge in the area of climate risks, is part of the cbk strategic plan. addressing the esg aspects, has multiple benefits for the entire economy and contributes substantially to reducing or preventing the adverse impact of the current or expected future climate risks, promote foreign investment opportunities, attract new investments and financing and shift the current credit exposures from the traditional sectors toward green and sustainable financing. i wish for fruitful discussions, during the three panels of such very interesting topic, and enjoy the stay in prishtina. 2 / 3 bis - central bankers'speeches thank you! 3 / 3 bis - central bankers'speeches

vitor constancio : interview with bloomberg tv interview with mr vitor constancio, vice - president of the european central bank, and bloomberg tv, conducted by mr paul gordon on 17 may 2018. * * * i ’ m here with vitor constancio, a man who has been at the heart of ecb policymaking basically since the birth of the euro almost two decades ago. for the last eight years he ’ s been vice - president. his term expires this month, but over that period, dating back to the all - too - brief period of calm between two recessions, he ’ s been through the unfortunate rate hikes of 2011, quantitative easing, negative interest rates and the rescue of the euro area from deflation – or the threat of deflation at the very least. today, when the governing council is almost, but not quite, ready to talk about exiting stimulus, vice - president vitor constancio is with me today. it ’ s been quite an eight years, and here we are : you ’ re about to go at a critical moment, because the economy is slowing. how worried are you? just a slight slowdown so far – which, by the way, was expected. you may recall that the staff projections that were published, after the high growth of last year, already pointed to a certain deceleration. so, what is happening is still within the bounds of the staff projections for the whole year, which nevertheless forecast growth above 2 %. the deputy governor of the finnish central bank, olli rehn, who is tipped to, is likely to join the ecb, has been nominated to do so, he says the medium - term outlook is tilted towards the downside. that ’ s not quite the same as the ecb says. i have not read what he said, but let me remind you : the projections that have been published, they foresee a growth rate for next year around 2 % and then 1. 7 % for 2020. indeed, on a path of deceleration, because for demographic reasons and other reasons, potential growth is not very high in europe – by the way, not also in other advanced economies. we have been growing above potential, especially last year, this year also. of course, as the output gap closes, we are reverting to potential growth. are you still comfortable with market expectations, which are roughly for an end to qe – to net