29 May, 2009 (Kosovo Times) – The Assembly of the Republic of Kosovo has adopted The Law on Kosovo’s membership with the IMF and the World Bank. According to Ahmet Shala, Kosovo’s Minister of Economy and Finance, the law is fully coordinated and harmonized with the legal teams of the IMF and the World Bank. The Law clearly defines the responsibilities and the benefits of Kosovo in relation with these organizations. Mr. Age Bakker, the IMF executive director, attended the Assembly session when the law was adopted.
On 10 July 2008 PM of Kosovo has formally submitted application for the IMF and the group of the World Bank. In December 2008 Kosovo for the first time was invited in the annual meetings of the IMF and World Bank. On May 9 Kosovo has been offered membership with the IMF. Parallel to this Kosovo is also in the course of the application process with the World Bank. The voting process on Kosovo’s application ends on 3 June. Kosovo’s quota in the IMF is 0.02 % which is the average quota of other countries in the region.