Home BreadCrumbTrailer News

The cooperation agreement with the EBRD provides strong support to the private sector in Kosovo

Click here to view this picture in a new windowClick here to view this picture in a new windowClick here to view this picture in a new windowClick here to view this picture in a new windowClick here to view this picture in a new windowClick here to view this picture in a new windowClick here to view this picture in a new window

London, 6 May 2017
 
The Memorandum of Cooperation signed in London by the Prime Minister of the Republic of Kosovo, Isa Mustafa, and the President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, provides strong specific support to the private sector in Kosovo.
   
Under this agreement, the EBRD will support the private sector and the Government of Kosovo as follows:

-
Development of industrial zones in all regions of Kosovo, investing in physical infrastructure and their completion for business establishment,
-
Direct financing for corporations and for small and medium-sized enterprises to increase productivity and improve quality,
-
Support to exporting enterprises,
-
Covering a part of the risk from the loans that commercial banks issue to small and medium-sized enterprises,
-
Provide professional support to the National Council for Economic Development,
-
Professional Support for Kosovo Competition Authority,
-
Support Kosovo institutions in implementing the law on bankruptcy,
-
Development of the factoring instrument;

In the following week, the Ministry of Finance in cooperation with the EBRD office in Prishtina will organize a discussion roundtable with chambers of commerce and businesses to brief them in detail on the benefits that businesses may have from this agreement and the procedures they need to follow to benefit from the same.

This memorandum derives from the EBRD’s Strategy on Kosovo for the period 2017-2020, which is approved at the EBRD Board in November 2016. The Strategy has three main pillars: private sector development, energy sector development and development of infrastructural interconnection of Kosovo with the countries in the region.

So far, EBRD has invested 227 million Euros in 51 different projects in the public and private sector in Kosovo. The largest project is the reconstruction of railway Elez Han - Leshak, then regional roads in Ferizaj, Gjilan and Prizren, Public Transport in Prishtina, support for the Credit Guarantee Fund, etc. In the future, it is expected to conclude negotiations for the road Kijevë - Pejë, Prishtina - Merdare motorway etc. 

The signing ceremony of the agreement was held on Friday, May 5, 2017 at the EBRD headquarters in London, which was also attended by the Minister of Finance, Avdullah Hoti and other senior representatives of the EBRD. 

Back

KOSOVO IN UNESCO