Tirana, Albania, November 17, 2009—IFC, a member of the World Bank Group, is partnering with Albania’s Ministry for Economy Trade and Energy to host a two-day conference in Tirana to promote business environment reform in Southeast Europe.

The event, running from November 17 to November 18, will bring together key policymakers, representatives of the private sector and academics from across the region to discuss the progress and challenges of related reforms.

According to the World Bank Group’s 2010 Doing Business report, the economies of southeast Europe are among the fastest reforming in the world. Still, more remains to be done and the conference will focus on business environment reform in light of the current financial crisis.

“Albania is pleased to host such an important regional event, and we thank IFC for supporting us in creating better conditions for doing business,” said Dritan Prifti, Albanian Minister for Economy Trade and Energy. “Improving the business environment by simplifying administrative procedures and providing better services will help reduce the cost of doing business in Albania and attract more foreign investment to our country.”  

At the conference, government and private sector representatives from the region will discuss initiatives to improve the business environment and increase the competitiveness of companies with academics and  World Bank Group representatives.  

“The global financial crisis has highlighted the need for IFC’s advisory services in business environment reform, as competition for foreign investment becomes tougher,” said Giovanni Danielle, IFC Resident Representative in Southeast Europe. “Improving the quality and effectiveness of regulations leads to a  better business environment.”

IFC is supporting governments in the region to improve the business environment by promoting reforms on the national and sub-national levels.

IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD, it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org.