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EBRD and Kosovo deepen private sector development

By Axel  Reiserer

Memorandum of Understanding signed in London

The EBRD and the government of Kosovo are deepening their cooperation to support the development of the private sector in the Western Balkans country.

Under a Memorandum of Understanding signed by Prime Minister Isa Mustafa and EBRD President Sir Suma Chakrabarti in London today, areas will be identified in which actions by the government and assistance by the EBRD may result in enhanced private sector development and facilitate significant improvements in the investment climate.

The government of Kosovo commits to support the EBRD in developing financial products aimed at facilitating investments that strengthen private sector competitiveness as well as develop and implement policy reforms and technical assistance. Meanwhile, the Bank expresses its intention – in line with its recent Strategy for Kosovo – to step up its efforts in direct financing of local enterprises and indirect financing through local partner banks.

The Bank will also support the government’s plan to develop new industrial zones by financing the investment into the necessary infrastructure, as well as by developing an efficient and sustainable financing and operational concept for such zones. Through its Advice for Small Businesses programme, the Bank will continue to provide business advisory services to small and medium-sized enterprises in Kosovo with the aim of improving their competitive position, productivity and growth.

EBRD President Sir Suma Chakrabarti said: “We are very pleased to sign this document with the government today. It is an expression of our deep and trustful partnership and also of our firm commitment to translate this into even more economic success. We want to be part of the Kosovo success story.”

To date, the EBRD has invested more than €220 million in 51 projects in Kosovo. The Bank is active in many sectors of the economy and its strategic priorities in the country aim to promote inclusion, the green economy, economic resilience and regional integration. The majority of the Bank’s investment is in the private sector.

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