USAID and CBS Launch “Balkanomics” — A Flagship Regional Conference to Catalyze Economic Growth in the Western Balkans
The United States Agency for International Development (USAID) and Creative Business Solutions (CBS) hosted “Balkanomics”, a flagship conference aimed at supporting economic growth opportunities for the Western Balkans region. This transformative two-day event convenes key stakeholders including businesses, financial institutions, development partners, and policymakers to explore innovative solutions and forge partnerships that drive sustainable economic progress in the region.
The two-day conference was opened by Ms. Mischere Kawas, USAID/Albania Country Director, followed by a panel discussion featuring Mr. David Wisner, Chargé d’Affaires at the U.S. Embassy in Albania, and Mr. Silvio Gonzato, EU Ambassador to Albania.
Highlighting how strong political partnerships can accelerate USAID’s development initiatives and Albania’s progress towards EU accession, Chargé d’Affaires David Wisner said, “We believe in greater regional integration which will undoubtedly drive prosperity and growth throughout the Western Balkans. In Albania in particular, we always say we focus on three major issues: defense, democracy, and business. In each one of those domains, we are working either with the European Union itself or with member states to see the kind of change and to help nudge along the kind of change we want to see in the region and in Albania.”
EU Ambassador to Albania Silvio Gonzato explained how the European Union helps the Western Balkans and Albania address structural economic challenges in the context of the EU integration process. He highlighted the significance of the EU’s Growth Plan for the region’s and Albania’s economic convergence with the European Union. “Economic convergence is at the heart of EU membership benefits and previous EU enlargements demonstrated the positive impact that membership of the EU single market, combined with financial solidarity, has on economic convergence. Our Growth Plan aims to boost economic growth by providing incentives for the required reforms, including in the area of rule of law and fight against corruption, while providing additional significant investment opportunities and fostering regional economic integration”.
The first day highlighted topics and panel discussions that are core to USAID CATALYZE Western Balkans Engines of Growth Activity, such as mobilizing access to capital for SMEs, embracing equity financing, financial innovations, and the transformative power of digitalization and e-commerce.
Additionally, “Balkanomics” will spotlight Environmental, Social, and Governance (ESG) standards, sustainable finance, and the role of public-private partnerships in driving ESG progress. The conference will announce a future ESG network meeting in Albania, which will take place on September 16, 2024. To bring in other perspectives, Ms. Delina Ibrahimaj, Minister of State for Entrepreneurship and Business Climate, also addressed the conference. Mario Bracci, General Manager for the conference’s strategic partner Titan Albania and the President of the upcoming ESG Network, provided insights from best business practices championing ESG adoption.
Other featured sessions explored themes such as private equity prospects in the region, responsible banking standards for green projects, AmCham initiatives in embracing ESG, and harnessing FinTech and Artificial Intelligence (AI) for business innovation. USAID is happy to have supported these conversations between private sector companies, development partners and public officials to highlight best practices for Western Balkan countries as they tackle the EU’s new Growth Plan and set themselves on a secure economic path.
USAID CATALYZE Engines of Growth (EoG) Activity (2020–2024) facilitates small and medium-sized enterprise (SME) resiliency, growth, and job creation in the Western Balkans by improving their access to and utilization of appropriate finance. EoG helps mobilize capital to sustain viable SMEs and jobs in the wake of COVID-19 in the near term and promotes improved SME growth financing in the long term, with a focus on women-owned and women-led SMEs.
CBS is a business consulting company and project implementation organization in Albania founded in 2012. CBS’s mission is to drive sustainable economic growth projects through innovative, customer-centric, and environmentally-friendly practices. It consults and implements solutions for local entrepreneurs, organizations, donors, and financial institutions, providing valuable and effective services that generate economic growth in developing economic sectors.
