World Bank's Emanuel Salinas reflects on achievements and challenges in Albania

Banking & Financial Services
Webp ntl4a8f2oj0gqbsru38q36t8872u
Ajay Banga 14th President of the World Bank Group | Official Website

In a recent interview with Monitor Magazine, Emanuel Salinas, the outgoing World Bank Country Manager for Albania, reflected on his tenure and the challenges faced by the country. As he transitions to his new role as World Bank Country Manager for Iraq, Salinas shared insights into the economic landscape of Albania and its future priorities.

Salinas highlighted the importance of development work, describing it as "a labor of patience, perseverance and maybe even faith." He emphasized that while immediate results are rare, efforts such as shaping policies and reforming institutions are crucial for long-term impact. Salinas expressed pride in projects undertaken during his tenure, including rapid support during COVID-19 and infrastructure renovations that have bolstered local economies.

Discussing challenges in Albania, Salinas noted his impatience with delays due to his personal connection to World Bank initiatives from childhood. He praised local government officials for their dedication and hard work in overcoming obstacles.

Regarding Albania's economic outlook for 2025, Salinas acknowledged uncertainties but commended the country's prudent fiscal management. He stressed the need for economic transformation towards productivity-driven growth and climate change mitigation.

Salinas identified human capital improvement as a critical challenge for Albania's progression from a middle-income to a high-income economy. He called for better utilization of current human capital through improved childcare and education services. Additionally, he urged radical improvements in education systems to prepare future generations effectively.

Reflecting on lessons learned in Albania, Salinas emphasized clear communication of knowledge generated by the World Bank. He advocated for concise reports accessible to decision-makers and stressed avoiding unnecessary conferences that detract from actionable progress.

Looking ahead, Salinas expressed confidence in Albania's development trajectory towards becoming a high-income nation with equitable prosperity. In his new role in Iraq, he remains committed to fostering stability and growth amidst different challenges.

As he concluded his remarks about moving forward into 2025, Salinas encouraged Albanians to appreciate their freedoms amid global conflicts: "I think it is important to pause and be grateful for what we have."