During this project 130 Albanian corporate governance stakeholders were trained. Some of the key results included the following:

• A broader analysis of the opinions of leading business institutions regarding professionalism and better business ethics at the management level. This had the effect of laying the groundwork for increasing of corporate governance competencies in Albanian companies;
  
  
• Provision of up to date information about the status of corporate governance issues in Albanian public and joint-stock companies, and what particular challenges are faced by the broader stakeholder community;
  
  
• Initiating an exchange of experience between the shareholding public and private companies and local media, on key corporate governance principles-transparency, accountability, fairness and responsibility;
  
  
• A better understanding of corporate governance issues by business and media representatives and other stakeholders (government and NGO representatives); and
  
  
• Establishment of a network of business leaders and media representatives that will continue to serve as a source of knowledge and advice on related economic reform issues in Albania.

Concrete accomplishments of the outreach campaign included:

• Increased awareness among the media and leading business associations on the up to date status of corporate governance practices in Albania; and the potential impact of their implementation on the country's economic growth and reduction of corruption;
  
  
• 10 published articles in the ACER publication: "Economy and Transition", 3 articles in other economic journals, 8 articles in several of the country's leading newspapers, and 11 appearances by ACER staff and corporate governance training participants on Albanian radio and television;
  
  
• Selection of trained economic journalists for the creation of a network of media representatives for analysis of broader economic problems faced in the Albanian transition to market oriented democracy; and
  
  
• Attracting the attention of central and local government officials in regard to corporate governance challenges faced by business and economic journalists in Albania.

The project successfully identified the current corporate governance challenges in Albania, and the groups and individuals concerned with addressing those issues. The national training program that was organized in the five main districts of Albania engaged local journalists, entrepreneurs, and government representatives/policy makers. Through effective education efforts and promotion of materials such as the Albanian-language Corporate Governance Training Manual, the project should be evaluated as a success.

By involving key business and media representatives in each of the training programs, the ACER project has promoted an understanding of corporate governance principles which were previously foreign concepts in these areas.

Through a well-orchestrated public awareness campaign on corporate governance principles, the general public's understanding of these issues and their applicability in the Albanian transition has been improved significantly. This will help build the critical mass of understanding for the broader reform efforts needed to improve the business environment in Albania.

By initiating an exchange of experience between the general public and private companies and local media on corporate governance, the ACER project has not only provided information about the risks of poor corporate governance, but increased awareness of principles key to combating corruption and political instability. These are the basic principles of corporate governance: transparency, accountability, fairness and responsibility.

The establishment of a network of business leaders, media representatives and other corporate governance stakeholders will continue to serve as a source of knowledge and an important advocacy channel for related economic reform issues in Albania. The network draws on the breadth of experience of its members to guide policy reform; and can utilize the connections with government representatives to push for implementation of necessary future reforms.

Follow-up efforts by the stakeholders who comprise this network will be the driving force behind corporate governance reform in Albania. Before specific policy objectives can be identified and advocated for, a critical mass of understanding of the issues which together form the concepts/principles of good corporate governance needs to be established. ACER will continue to work to expand the understanding of these issues on a nationwide level through assistance to the fledgling network, and also through its own well-established outreach and advocacy channels (particularly well developed following their work on anti-corruption initiatives). CIPE will remain in close contact with ACER and other Albanian partners in monitoring the progress of governance reforms, and will be receptive to supporting other relevant initiatives.