The President of the European Investment Bank, Nadia Calviño, in an interview for News24 with journalist Erion Kaçorri, he described Albania as a success story, but also a work in progress.

On her first visit to the country, Calviño stated that she was impressed by Albania's economic progress and development, while emphasizing that the European Investment Bank will continue to support the country with strategic financing.

"I see growth, prosperity and phenomenal opportunities for the future. Albania is both a success story and a work in progress. We are very happy to support the country on its path towards the European Union," she said.

The EIB President announced that the institution she heads has already provided 1 billion euros in financing for Albania during 2026 and financial support is expected to increase by 60%.

According to her, investments focus mainly on strategic sectors such as infrastructure, water supply, transport, railways, and support for small and medium-sized businesses.

One of the main projects financed by the EIB remains the modernization of the Albanian railway network, including the Vorë-Hani i Hotit line, which is worth over 400 million euros, while our financing is 100 million euros.

Calviño stated that the transformation of the Albanian railway system will directly impact the lives of around 4 million citizens and will better connect Albania with the region and the European Union.

"We are modernizing the entire railway system from north to south and from east to west. This will bring European standards and stronger economic and human ties to the region," she said.

Commenting on the Durrës-Rrogozhina line project and the importance of Corridor VIII, the EIB president described regional connectivity as a strategic priority, not only economic, but also civil and military.

"We are connecting economies, businesses and people. These are key investments for the security and European integration of the region," declared Calviño.

In the interview, she also spoke about the agreement signed with the Bank of Albania on ecological investments and coping with climate change. According to her, floods and droughts have clearly shown the need for investments in resilient infrastructure and green energy.

"Every euro invested in prevention saves 5 to 7 euros in damages and repairs," emphasized the EIB President.

Calviño also praised the support for Albanian small and medium-sized businesses, noting that over the past few years, around 20,000 companies in the country have been financed.

"We bring long-term loans with low interest rates to businesses. These companies are the heart of the Albanian economy and will play a key role in the country's prosperity," she said.

Asked about the impact of Chinese and Russian investments in the region, the president of the European Investment Bank stated that the European Union remains "a beacon of values, freedoms and the rule of law."

"I don't believe that Albanians have a dilemma about the family they belong to. Albania is part of the European family," said Calviño.

FULL INTERVIEW:

Erion Kaçorri: Madam President, it's a pleasure to have you on television. News24!

It's a pleasure to be here.

Erion Kaçorri: President Calvino, the European Investment Bank is a major financial arm of the EU. We want to know your opinion. How would you describe Albania today, a success story, or still a work in progress?

It's my first time in Albania and I'm impressed by the progress Albania has made. You can see the growth, you can see the prosperity that is reaching the citizen and I think the opportunities for the future are phenomenal. So I think it's both a success story and a work in progress. And we are very happy as the European Investment Bank to support the country on its path to integration into the European Union.

Erion Kaçorri: Can you tell us about some approved investment agreements signed with the Albanian government and their importance?

We are here today to sign an agreement with a private company to provide financing on good terms to small and medium-sized companies across the country. We are financing very important infrastructure projects in the field of drinking water, in the field of transportation and to support the private sector to have prosperity and I am sure that we will finance other major initiatives in the coming years.

How do European Investment Bank investments directly contribute to Albania's EU membership?

We have already secured 1 billion euros of financing for the country this year 2026. We expect the financing to increase by 60% and this shows the positive trend and the fact that we are supporting and closely following the accession process so that Albania meets European standards and meets its ambitious objectives to join the European Union by the end of this decade. And of course, our investments are about bringing standards to the European level in the areas of water supply, recycling, sanitation, in the field of transport and in many key areas of infrastructure that make a difference for citizens on the ground.

In 2024, the European Investment Bank financed a 100 million euro project for the Vore-Hani i Hotit railway. In your opinion, how is the cooperation with the Albanian side, how is the project progressing and what does it solve for the region and Albania?

It is one of our main projects. In fact, we are modernizing, upgrading the entire railway system of the country from north to south, east to west and this will benefit 4 million citizens who will be able to travel with modern infrastructure and railways. Of course, this takes time, but the project process is on track and we, as the European Investment Bank, are not only bringing the money, but also the technical expertise. Due to our extensive experience in financing such projects in Europe and around the world, we can help the country's administration to implement the entire process in a way that is in line with European standards.

In 2025, you signed an agreement with the Bank of Albania to promote ecological investments. What is the purpose of this agreement and how is it progressing?

It is quite clear that we need to address the impact of climate action. This is a good investment and I don't need to explain it to Albanians. You have recently suffered the impact of floods. There can be droughts and floods at the same time, so we need to make sure that our economies are resilient to the impact of climate change. Every euro we invest in prevention and adaptation saves five to seven euros in damage and repairs, not to mention the human losses which can be irreversible, of course. So we are very happy that we can support Albania not only with sustainable infrastructure like the ones we mentioned, the railways and also water management here in the city of Tirana. Flood prevention infrastructures, but also supporting small and medium-sized companies that are investing in these areas, such as energy efficiency so that energy bills are lower, adaptation so that there are more modern devices so that they are better prepared for this constant change.

The Durrës-Rrogozhinë line is considered a key link for connecting the port of Durrës with regional transport corridors (Corridor VIII) and for the gradual integration of Albania into the European railway network. During the signing of the financing agreement with the EU, the Vice-President of the European Commission, Kaja Kallas, described this node as important not only for trade, but also for security. Where do you see the role of the region in this regard?

I just visited Montenegro, now I'm in Albania and in both countries connectivity is one of the main priorities so that this whole region is better connected to the European Union and to have better connectivity within the region. We are connecting businesses, economies, we are connecting people ultimately and I think these investments in railway structures, north-south access and horizontal access, which is important from a civil and military point of view, are some of the main projects that we are financing as the European Investment Bank.

Are you satisfied with the project at the Port of Durres?

I do not have any specific information that would signal any problems in this regard. So far, the projects financed by the European Investment Bank are being managed well and I have not received any negative indications.

Which European Bank investment in Albania would you single out as the most impressive and necessary investment?

It's a very good question because if I had to talk about it, it would be water, it would be connectivity, railways. It would also be support for small and medium-sized companies, but I just had a meeting with Prime Minister Rama, and he was also emphasizing the importance of investing in culture. I'm very impressed by what he said. He has a number of projects here in the city, a new museum, etc., and this is really a very important investment because our culture is our identity and the culture of the country signals the strong desire of its people to join the European Union. And the fact that Albania is a European country. I was very impressed by his insistence that we also consider some investments in culture. Education is another aspect that we are quite strong in general and it is definitely the best possible investment for our country, an issue that Prime Minister Rama and his government are also very committed to.

We are aware of the massive Chinese and Russian investments in the region. Where do you see the main advantages of EU-funded projects?

I don't think I need to explain to Albanians where their heart is, where their brain is, because they have had a very rich history, I think, dealing with some other key players on the world stage and your experience I think is a very good testimony of why the European Union is different. Right now in the current geopolitical context, the EU is really a beacon of values, a beacon of human rights, a beacon of freedom and also of the rule of law. The fact that every person will be treated equally by the system and the administration is there to serve the citizens and I think these principles that are the heart of the European project are very precious to Albanians. In my opinion there should be no hesitation and I think there is no hesitation, we belong to the same European family and we as the European Investment Bank want to support the country in these ambitions.

How do you support small and medium-sized enterprises in the region, what eligibility criteria do they need to meet, and how is the European Investment Bank's support helping to make them more competitive in the face of evolving market demands?

As the European Investment Bank, we were created decades ago by the member states of the European Union with a capital injection and we were profitable every year. We reinvest these profits, so that we have strong reserves, and that gives us a triple A rating in the financial markets. We can borrow in the financial markets with good financing conditions, low interest rates, so everyone understands what I'm talking about. And what we do is pass on these low interest rates and long-term loans to our clients, which certainly gives a lot of breathing room to small and medium-sized companies.

Over the past few years we have invested in and supported 20 thousand small and medium-sized companies here in Albania, which are the heart and blood of the country, and I am really happy that today we have signed another agreement with a private bank, Intesa Sanpaolo Bank Albania to ensure that we continue to provide financing on good terms to small and medium-sized companies, which will surely play a key role in the future prosperity of the country.

What tangible economic results do you expect from investments in Albania?

We need to be a profitable institution so that we can reinvest these amounts and continue to provide these long-term loans on good financing terms to our clients in Europe and beyond. So, it is important for us to continue to have a sustainable business model, but this is not just a financial benefit. It is about making a difference on the ground and what makes me really proud is that when I visit countries, today it will be Albania and we will have the opportunity to visit some medium-sized companies, for example a café that has benefited from funding from the European Union. Every time I see these projects, I see the impact of our work on the ground and I see how the European Union is building a community of shared prosperity of human rights, of the rule of law and of values ​​and this makes me really proud.

Is Europe at risk of an economic crisis from the escalation of conflicts in the Middle East? The war in Ukraine began a few years agowhich is still ongoing. How endangered is Europe?

The European Union is clearly a peace project, so the first message I want to convey is the strong desire for these conflicts to stop. It is clear that the conflict, the invasion of Russia, the attempted invasion of Ukraine by Russia and the escalation of the conflict in the Middle East, both conflicts are creating a huge negative impact all over the world and the sooner they end, the better for the world economy. Now, the main message that comes from these wars when it comes to the European Union is the determination to free ourselves from extreme dependence on fossil fuels. The green transition, the energy transition, the fact that we diversify energy sources, that we deploy domestic energy sources to become more efficient when it comes to energy consumption, it is clear that these conflicts are accelerating this trend because private companies and citizens are fully aware of the need to reduce dependence on fossil fuels which are not only unsustainable but are also becoming more expensive. And I think this is a good lesson for all of us, that we are moving forward and accelerating our role in supporting these energy transitions in Europe, around us and around the world.

How do you plan to diversify energy sources?

We are already doing this. Since Russia's invasion of Ukraine in 2022, the European Union has significantly improved its resilience. Now, with the conflicts in the Middle East, we can see that the impact is much lower than it would have been in 2020, for example.

Was this a surprise to you?

I wasn't so surprised because I was previously the deputy prime minister of Spain and Spain is an example of the penetration of renewables, which make up the majority of the energy supply on a daily basis and which makes a big difference in terms of dependence on fossil fuels. There is also a very diverse supply of different suppliers around the world, so Europe has become more resilient, but of course these geopolitical shocks that are affecting the whole world will certainly slow down growth, increase inflation and are not good for the global economy, so I go back to my first point, I hope we can find the path to peace as soon as possible.

Do you foresee another European economic crisis like the one in 2008?

Well, we have a very strong financial sector in Europe now. The European economy has proven to be very resilient, for example in the time of Covid and now in the two attacks in Ukraine and the Middle East. It is clear that the European economy has shown extraordinary resilience in recent years and a strong position. But we need to follow this path of sustainability and competitiveness for the European Economy and the European Investment Bank is playing its role by investing in new innovative techniques and in the green transition that I just mentioned, by supporting new European businesses to expand so that we are strong for the sake of Europeans, but also for the sake of the world economy, because the European Union is a world superpower and now we need to play a role in bringing stability, trust and prosperity to our neighbours, starting with Albania.

Well, thank you very much for your contribution and for the interview.

Thank you.