Human Rights Council
 
56th session of the Human Rights Council
 
18 June to 12 July 2024
 
Statement delivered during the Interactive Dialogue with the Working Group on the issue of human rights, transnational corporations, and other business enterprises.
 
Geneva, 26 June 2024
 
 
 
 
 
 
 
 
Thank you, Mr. President,
 
I would like to thank the Working Group for analyzing in their report the responsibility of Development Finance Institutions to respect human rights in line with UN Guiding Principles on Business and Human Rights as well as the role that States can play in this matter.
 
Albania believes that States can play a crucial role in ensuring that International Development Financial Institutions (DFIs) respect human rights and the environment by creating a strong legal framework that requires them to respect human rights and environmental standards.
 
Technical assistance and capacity-building support for DFIs and project implementers are important to help them understand the impact of human rights on their practices. Another important aspect is the alignment with International Standards, by ensuring that national policies are aligned with international human rights standards and obligations.
 
Albania attaches particular importance to the balance between the economic development and the respect and protection of human rights.
 
We recognize that DFIs can contribute significantly to development, but their projects also pose specific human rights risks to vulnerable groups. Addressing these risks requires targeted measures to protect these groups and ensure their inclusion in the benefits of development projects.
 
To conclude, we concur with the conclusions of the working group on the responsibility of investors to respect human rights by putting risks for people and the planet at the centre of their decision-making.
 
 
Thank you.