Kosovo full member of EBRD

Kosovo became a full member of another international institution, the European Bank for Reconstruction and Development (EBRD), bringing the number of its member countries to 66.

In a press release, Kosovos Prime Minister Hashim Thaci stated that the EBRD membership news has been confirmed over the telephone by the president of the bank, Suma Chakrabarti.

Thaci said that bank invests mostly in countries experiencing transition and that private businesses, local banks, public-private projects and municipalities have the right to apply for grants and favorable loans with a low interest rate.

“Kosovo is interested for investments in three main areas : agriculture, small and medium enterprises as well as in the energy sector, namely the new power plant project ‘Kosova e Re’ and the Hydro Power Plant in Zhur. Kosovo encourages businesses to develop good projects and use this new membership for sustainable business growth and new jobs. During the first few years of membership, Kosovo is expected to benefit tens of millions of Euros from investments in suitable and concrete projects.”

Kosovo will be EBRD member with full rights from December 17 of this year.