Kosovo, 96 million euros from the World Bank - Two agreements signed. Strengthening the financial sector and facilitating trade
The Ministry of Finance and the World Bank have signed two agreements worth a total of 96 million euros, aimed at strengthening the financial sector and facilitating trade in Kosovo.
The agreements include the Financial Sector Development Project (FSDP) worth EUR 50 million, as well as the Western Balkans Trade and Transport Facilitation Project 2.0 (TTFP 2.0), which consists of a EUR 35 million loan and a EUR 12 million grant. These projects aim to support structural reforms and strategic investments in line with European Union standards.
The Financial Sector Development Project will support the establishment and operationalization of the Development Bank, the capitalization of key financial institutions, the expansion of credit guarantee instruments for businesses, and the development of modern payment infrastructure through a fast payment system.
Meanwhile, the Trade and Transport Facilitation Project aims to improve infrastructure and procedures at border points, digitalize trade processes, and increase market competitiveness, further bringing the country closer to European networks and standards.
Minister of Finance, Hekuran Murati, emphasized that these agreements constitute important steps towards strengthening the financial stability and economic development of the country. They improve access to finance for businesses and increase trade efficiency, directly contributing to the modernization of our economy.
Meanwhile, Xiaoqing Yu, representative of the World Bank, thanked Minister Murati for the effective cooperation, expressed optimism for the timely implementation of the projects and reaffirmed the World Bank's commitment to deepening cooperation in future initiatives.
These agreements constitute an important step towards modernizing the economy, facilitating trade activity, and accelerating Kosovo's economic integration in the region and beyond.
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