IFC and Kosovo discuss financing infrastructure projects

Minister of Economy and Finance, Mr. Ahmet Shala, hosted last week a delegation from the International Finance Corporation (IFC), headed by Regional Director for Eastern Europe and Central Asia, Mr. Shahabaz Mavaddat.

At this meeting was discussed the possibility of cooperation in the field of IFC funding various projects, whether in the advisory role or as financier of projects.

”Membership in the World Bank, has opened doors to the Republic of Kosovo that now as a state, to approach the cooperation with the International Finance Corporation with greater seriousness, which as an institution is very important and has incontestable credibility in the field of financing various projects, in the field of technical assistance as well as other important areas of cooperation with emerging and developed countries. During this meeting we have also identified development projects, which are aimed attracting private capital and operators in order to ensure economic efficiency”.

He further added that, “We shall jointly analyze the likelihood of partnerships for realization of various projects in the field of waste recycling that can afterward be used for energy production, concession of Prishtina International Airport, as well as the concession of the hydropower plant in Zhur, where IFC has may have an advising role or even fund the projects.

While Mr. Shahabaz Mavaddat thanking Minister Shala for the warmth reception, said: “Kosovo is not just a World Bank member but also its co-owner, so we will work together in various areas, which will enable Kosovo a rapid economic and financial development, especially in development of the private sector, banking sector and infrastructure”.

Mr. Mavaddat also added that: “We hope to sign successful projects with Kosovo and in same time are optimistic about that, given the success we have had so far in the mining and financial sectors. While, in terms of major projects such as hydropower plant of Zhur, our role will be purely advisory, namely by presenting the Government the best solutions that can be pursued for this project, mainly by including the private business. However, in the end it is up to the Government to choose the option that it judges it is more reasonable, as it has done so far”.

International Finance Corporation (IFC), is one of five World Bank Group programs, which provides financing for private sector investments, mobilizing capital in international financial markets, as well as advisory services for businesses and governments.

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